China’s largest pharmaceutical company, China National Pharmaceutical Group Corporation Sinopharm has showed interest in Pakistan’s healthcare sector, the latest Chinese company that intends to enter the country’s market.
China is country’s “all-weather” ally and has made significant contribution to building the country’s infrastructure, the most recent being the $46 billion agreement the two countries signed last year for Chinese investment in projects ranging from dams to power units.
Under the corridor plan, Chinese companies will invest in coal-fired hydro, wind and solar energy projects in Pakistan. Other projects including building of metro rail in Pakistan’s metropolitan city of Lahore.
A Sinopharm delegation met Pakistan’s Health Minister Saira Afzal Tarar and discussed the opportunities of investment and join ventures.
China National Pharmaceutical Group Corporation (Sinopharm) is the largest medical and healthcare group under the direct leadership of the State-owned Assets Supervision and Administration Commission of the State Council.
It is famous for its most comprehensive competitiveness and complete chain of the whole pharmaceutical industry in China. In 2015, the total sales revenue of Sinopharm is over 40.5 Billion U.S Dollars. It ranks 276th in the “Fortune Global 500” published by the Fortune Magazine in July 2015.
The Minister informed the delegation that in Pakistan, there is huge scope for investment in the Active Pharmaceutical Ingredient preparation sector, intermediates, vaccines and blood products and finished drugs as well as in the field of medical devices.
Pakistan has a multi-tiered and mixed health-care delivery system that has posted significant growth in the past three decades. The health-care delivery includes both the government-run as well as non-government entities.
The current situation of the health sector is highly fragmented since the devolution of the Health Ministry from the federal to provincial subject.