Over the last few years Pakistan’s pharmaceutical market went through a dramatic transformation from multinational companies-based market to home-grown pharmaceutical companies-based market.

When the MNCs arrived in Pakistan the local pharmaceutical industry was almost non-existent. The MNCs were taking almost 95% share of the market. Now the situation is reversed. The MNCs’ share has reduced to 25.49% (IQVIA, 2024). A good 75 % of the medicine market is dominated by the local pharmaceutical companies.

After the implementation of the Drugs Act in 1976, there were over 40 world class foreign pharmaceutical firms present in the country. The presence of a number of multinational firms has played a significant role in technology transfer and capacity building for the local pharmaceutical industry.

These firms entered Pakistan driven by attractive market opportunities, large population with growing quality healthcare needs, strategic location of the country, favourable regulatory policies, and government support. Over the years much of these attractions mellowed down.

The growth of local pharmaceutical industry ushered a pricing level in the market which challenged the pricing........

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