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This pharma city foundation stone was laid by Y. S. Rajasekhara Reddy, then Chief Minister of Andhra Pradesh. [2] It is a pharma product SEZ and Andhra Pradesh State largest Pharma SEZ spread over 2143 acres. Most all multi-national pharma companies started their operations here, like Hospira, Hetero, Shasun, Natco, Eisai, Mylan, Biocon, GVK ...
The company went public in India in 1999, and used some of the proceeds to build its first research facility. Saldanha's son Glenn took over as CEO in 2001, [3] having returned to India after working at PricewaterhouseCoopers. [4] By 2008 Glenmark was the fifth-biggest pharmaceutical company in India. [5]
The pharmaceutical industry in Pakistan was estimated to be worth Rs. 748 billion (US$2.6 billion) in 2023, representing about 1% of the country's GDP. [ 1 ] The industry is largely import-dependent, with more than 90% of raw material being imported and only 12% of active pharmaceutical ingredients locally produced. [ 1 ]
[7] [8] [9] The diversified economies of Karachi and Punjab's urban centres coexist with less developed areas in other parts of the country particularly in Balochistan. [8] According to the Economic complexity index , Pakistan is the 67th largest export economy in the world and the 106th most complex economy. [ 10 ]
In 2016, German Merck KGaA executed a binding contract to divest its shareholding in Pakistan to Martin Dow Ltd. [11] [12] [13] In 2016, in a €1.5 million deal, Martin Dow acquired the Laboratoires Salem (before 2010 Bristol-Myers Squibb ) pharmaceutical manufacturing facility in Meymac , France.
The company started its operations in Pakistan as Glaxo Laboratories Pakistan Ltd and was listed on the Karachi Stock Exchange in 1951. [3]GSK Pakistan equation was formed when Beecham, Glaxo Welcome and Smith Kline, all having a big name in the pharmaceutical market and that were separate entities before, merged in 2002.
Hamdard Laboratories central structure is based in Karachi, consisting of fully automated pharmaceutical manufacturing and research units, manufacturing a wide spectrum of herbal products. Recently, a new industrial complex has been set up about 40 km from Karachi. Apart from Karachi, manufacturing units operate in other Pakistani cities.
The pharmaceutical industry in India was valued at an estimated US$42 billion in 2021 and is estimated to reach $130 billion by 2030. [1] India is the world's largest provider of generic medicines by volume, with a 20% share of total global pharmaceutical exports.
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