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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 ]
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 Visakhapatnam Steel Plant is only 10 km from the locality. The locality also houses many small-scale engineering work companies such as Sri Lakshmi Sai Engg, Works, Beekay Structural Steels, Vesuvius India Limited, and Jami Hydraulics Pvt. Ltd. The Visakhapatnam Special Economic Zone can be reached within 3 km.
Andhra Pradesh MedTech Zone (AMTZ) is the medical technology park with Common Manufacturing Facilities & Common Scientific Facilities located in Nadupuru village area of Visakhapatnam, adjacent to the Visakhapatnam Steel Plant. The AMTZ is spread over an area of 270 acres and it has over 10 manufacturing units.
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.
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. [4]
Laurus Bio is the company's biotechnology subsidiary. Laurus Labs entered the biotechnology sector in 2020, by acquiring the Indian biotech company, Richcore. [20] Post the acquisition, Richcore was renamed to Laurus Bio Pvt Ltd, and became a subsidiary of Laurus Labs. [20]
Karachi Gateway Terminal Multipurpose (Private) Limited (KGTML) operates a bulk and general cargo terminal on the East Wharf of Pakistan's Karachi Port. [1] [2] [3] Karachi Port is Pakistan's most important port of international trade. Over 90% of imports and exports of Pakistan take place through Karachi Port.