Pakistan’s leading pharmaceutical company, BF Biosciences Limited (BFBL), has entered into a contract manufacturing and supply agreement with Lucky Core Industries Limited (LCI). This strategic development was shared by Ferozsons Laboratories Limited, the parent company of BFBL, in a notice to the Pakistan Stock Exchange (PSX) on Wednesday, marking another milestone in the company’s journey.
“BF Biosciences Limited (BFBL), a subsidiary of Ferozsons Laboratories Limited, has entered into a contract manufacturing and supply agreement with Lucky Core Industries Limited (LCI) for the products ‘Esopase IV 40 mg’ & ‘Etipro IV 40 mg’,” the official notice stated.
This new partnership is expected to further enhance BFBL’s standing in the pharmaceutical industry by expanding its production capacity and market reach. Both Esopase IV and Etipro IV are intravenous medications designed to treat various medical conditions, providing healthcare professionals with more options in patient care.
BF Biosciences Limited (BFBL) has emerged as a key player in Pakistan’s pharmaceutical sector. The company is a joint venture between Ferozsons Laboratories Limited and Argentina’s Bagó Group, bringing together local expertise and international standards. BFBL specializes in the import, manufacturing, marketing, and distribution of high-quality pharmaceutical products. Its portfolio includes a wide range of therapeutic areas, catering to the diverse needs of the healthcare industry.
BFBL has continuously invested in research, innovation, and infrastructure, allowing it to maintain a competitive edge in the market. The partnership with Lucky Core Industries reflects the company’s commitment to expanding its product lineup and reinforcing its role in Pakistan’s healthcare ecosystem.
Its recent agreement with Lucky Core Industries, BFBL has made significant strides in product development. Just last month, the pharmaceutical company successfully launched a human insulin product under the brand name ‘Ferulin.’ This product launch showcases the company’s dedication to addressing the growing needs of diabetic patients in Pakistan, providing affordable and effective insulin therapies.
Looking ahead, BFBL is preparing to go public. The company has announced plans for an initial public offering (IPO) at the Pakistan Stock Exchange (PSX), aiming to raise at least Rs1.375 billion ($4.94 million). The IPO will involve the issuance of 25 million shares at a floor price of Rs55 per share. This capital raise will enable BFBL to further expand its operations, enhance its research capabilities, and invest in cutting-edge technology to improve its manufacturing processes.
BFBL has established itself as a pioneer in the local manufacturing of hepatitis-related medicines, particularly interferon injections. This innovative approach has allowed the company to make a significant impact in combating hepatitis, which remains a major health concern in Pakistan.
One of BFBL’s most notable achievements in recent years was its contribution to the global fight against COVID-19. In 2020, the company entered into a non-exclusive license agreement with Gilead Sciences, Inc., a global biopharmaceutical company, for the production and sale of Remdesivir. Remdesivir is an antiviral drug that was widely used in the treatment of COVID-19 patients during the pandemic.
Under Gilead’s Global Patient Solutions (GPS) Program, BFBL was authorized to manufacture and distribute Remdesivir in Pakistan and other markets. The company successfully produced the drug during the pandemic, significantly contributing to the treatment of COVID-19 patients. During the fiscal years 2021 and 2022, BFBL’s production of Remdesivir added approximately Rs2 billion to its topline, underscoring the company’s ability to respond to urgent healthcare needs.
As BFBL continues to grow, the company’s focus remains on delivering high-quality, affordable healthcare solutions to the people of Pakistan. Its partnership with Lucky Core Industries, the launch of new products like Ferulin, and its upcoming IPO all signal a strong commitment to furthering its impact in the pharmaceutical sector.
With a reputation for pioneering treatments and a track record of successful collaborations, BFBL is well-positioned to capitalize on new opportunities and overcome the challenges of a rapidly evolving healthcare landscape. The contract with Lucky Core Industries is just the latest step in what promises to be an exciting future for the company, its stakeholders, and the patients who depend on its life-saving medications.
BFBL’s contribution to local manufacturing, its innovation in drug development, and its role in addressing national and global health crises reflect its ongoing mission to improve healthcare standards in Pakistan. By forging new partnerships and investing in future growth, BFBL aims to remain at the forefront of pharmaceutical manufacturing and healthcare solutions in the country.
