Pharmaceutical Industry in Pakistan
Haque, Ansarul, Economic Review
As many as 32 multinational companies command more than 70 per cent of the total pharmaceutical sales in the country. The present devaluation has enhanced the cost of raw material and imported medicines and made them beyond the common man's reach, besides promoting smuggling.
At present there are 15 Pharmaceutical companies on the list of Karachi Stock Exchange and they command more than 70 per cent of total pharmaceutical sales in the country. Total Paid-up Capital of these companies stood at Rs. 1009.87 million. Free Reserves and Surplus stood at Rs. 1346.96 million. General Break-up Value per Rs. 10/- worked out to Rs. 23.52. Total sales of these companies in 1992 stood at Rs. 10.67 billion as compared to Rs. 9.36 billion in the preceding year, showing a rise of 14 per cent. Pretax Profit has also increased from Rs. 718.41 million to Rs. 752.27 million in 1992, depicting a rise of 4.71 per cent. Increase may be attributed to higher price allowed by the government. The top 5 pharmaceutical companies according to sales in 1992 are given below:-
Dividend: The Dividend picture in this section is very encouraging. Out of 15 companies 12 paid dividend during the year under review. The highest dividend of 45% (cash) was paid by Boots Pakistan Limited followed by 35% each by Wellcome and Glaxo. Ferozsons, Ostuka and Zafara International have not paid any dividend, bonus or right shares during 1992. …