Osman Khalid Waheed is the CEO of Ferozsons Laboratories Limited. An alumnus of Harvard University, USA, he has held major positions including the presidential office of the Rawalpindi Chamber of Commerce and Industry (RCCI), and served on the board of the country’s leading companies and organisations. Recently, his company began the production and export of Remdesvir injection, under the brand name Remidia, for COVID-19 under license from Gilead Sciences Inc, USA. The News talked to him about this distinction, the history, and achievements of the company, issues of the pharmaceutical sector, prospects of industry’s growth, etc. Excerpts follow:
Osman Khalid Waheed is the CEO of Ferozsons Laboratories Limited. An alumnus of Harvard University, USA, he has held major positions including the presidential office of the Rawalpindi Chamber of Commerce and Industry (RCCI), and served on the board of the country’s leading companies and organisations. Recently, his company began the production and export of Remdesvir injection, under the brand name Remidia, for COVID-19 under license from Gilead Sciences Inc, USA. The News talked to him about this distinction, the history, and achievements of the company, issues of the pharmaceutical sector, prospects of industry’s growth, etc. Excerpts follow:
Q. What do you think were the reasons for award of manufacturing rights of Remdesvir to your company?
A. We are proud of the fact that Ferozsons Laboratories Limited was one of only six companies initially licensed to produce this injection for COVID-19 patients by Gilead Sciences, Inc, USA- the originators of the drug. Our joint venture facility, BF Biosciences Limited, where Remdesivir is made, has been declared a state-of-the-art facility by DRAP, and the company history of building alliances with international partners.
These alliances include the one with Boston Scientific Inc, USA the world’s leading manufacturer of medical devices, a joint venture with the Bago Group of Argentina to establish BF Biosciences Limited, Pakistan’s first biotech pharmaceutical manufacturing company, and Gilead Sciences, Inc USA for their range of Hepatitis C and anti-viral therapies, including Remdesivir to name a few.
When the Hepatitis C cure was developed in 2015, Pakistan became the first country in the world where patients began receiving the FDA approved cure, Sovaldi, under a special access programme via the Gilead-Ferozsons partnership, at roughly 1.5 percent of its international price.
Similarly, in the case of Remdesvir, Gilead worked in record time to transfer technology to some of its international partners, including Ferozsons, to license production for countries of the developing world. This was done so that countries would have quick and secure access to quality-assured, licensed treatment, and was not left vulnerable to sub-therapeutic or unproven treatments. Today, we have sufficient strategic stocks in the country and at the same time are in a position to supply it to the world.
Q. How helpful is this injection in treatment of COVID-19 and where does your company stand among global suppliers?
A. This injection was earlier approved for critical patients only but now it is recommended as a treatment for moderate patients as well. It is effective in reducing time to recovery, which is essential in protecting patients from hospital-acquired infections and reducing the burden on the healthcare system.
Though conditions have improved in Pakistan, it is imperative to have strategic stocks in the country and we are maintaining these.
On the other hand, it's needed in other parts of the world, which is why Gilead has issued licenses to partners for its production on a large scale.
According to the agreement, Gilead's licensing partners are mandated for supply within the list of 127 countries, in which all licensees can compete to ensure there is reasonable competition along with quality assurance for the drug.
We have received queries from different countries and are in the process of exporting to them. In Pakistan, the price of Remdesivir injection is fixed at a fraction of its price in the developed world.
Q. Can you briefly narrate the journey of Ferozsons Laboratories and point out its strengths?
A. Ferozsons Laboratories Limited is a public limited company founded in 1956 and listed on the Karachi Stock Exchange in 1960. Our founder and my great grandfather, Maulvi Ferozuddin, was keen on supporting education and health for the citizens of the sub-continent and set up the Ferozsons publishing house in Lahore in 1894. After independence, Pakistan had virtually no pharmaceutical production capacity, and this was the reason for establishing Ferozsons Laboratories Limited.
Today, the company possesses leadership brands in the areas of gastroenterology, hepatology, cardiology, and oncology, with an emerging presence in endocrinology as well as mother and child health the diabetes space. The plant where Remidia is being manufactured has been built according to the international standards and the transfer of technology has also taken place here.
This plant was set up by a joint venture company named BF Biosciences Limited exclusively for the manufacture of biologicals. We are the first and only company in Pakistan currently to have a biotech manufacturing facility in the country.
Q. What are prospects of growth of pharmaceutical industry in Pakistan?
A. The pharmaceutical industry is one rare sector in Pakistan that does not ask for any concessions, bailouts, or relief packages from the government.
All it needs is a supportive regulatory environment and removal of bureaucratic hurdles, red-tapism, and the unreasonable barriers in processing routine matters. It is a fact that until just this week, the federal cabinet has not been able to approve new medicines since November 2018.
There are certain issues and an urgent need to simplify procedures. Even in these conditions, Pakistan is exporting pharmaceutical goods worth $300 million approximately. This figure can go up to $2 billion in five years if supportive policies are introduced for this sector.
The COVID-19 pandemic has exposed some weaknesses in our healthcare system. Prime among these is Pakistan's excessive dependency on imported raw materials and vaccines and medicines. It is high time that the government starts thinking along the lines of supporting raw material and vaccine production in the country.
Q. Ferozsons Laboratories has taken certain CSR initiatives as well as launched a tech-based application to cater to the health needs of people. Can you briefly explain these?
A. As a responsible corporate citizen in the field of healthcare, we have tried to be holistic in our response to COVID-19. To ensure the safety of patients and healthcare providers, we have worked with HospitAll, an incubatee of Netsol Technologies, to develop an online platform for physicians to treat their patients through a secure online platform. The platform, under the name CliniCall is HIPAA-compliant and provides a safe, user-friendly, and convenient addition to the doctor’s physical clinic.
A second initiative we are extremely proud to be supporting is Umang, a free, 24/7 mental health support line run by a team of clinical psychologists in collaboration with the Parsa Trust.
We also work closely with the Parsa Trust to support Project ECHO, a global online medical education platform that seeks to democratise medical education and improve the state of primary care in the country.
The writer is a staff member
