The Searle Company Limited (SEARL), a leading pharmaceutical company in Pakistan, has received approval from the Drug Regulatory Authority of Pakistan (DRAP) for ADALIMUMAB, the first locally manufactured biosimilar drug in the country.
Biosimilar drugs are copies of original biological medicines that have similar safety and efficacy profiles. ADALIMUMAB is a biosimilar of Humira, a widely used drug for treating various inflammatory diseases such as rheumatoid arthritis, psoriasis, and Crohn’s disease.
In a notice to the Pakistan Stock Exchange (PSX) on Thursday, SEARL said that it has developed ADALIMUMAB in collaboration with BioRay Biopharmaceuticals Co. Limited, a Chinese biotech company.Â
The company plans to introduce the drug to the market within the next 3-6 months, aiming to provide high-quality, affordable biotechnology medicines to patients in Pakistan.
SEARL’s CEO, Mr. Nadeem Ahmed, said that the launch of ADALIMUMAB is a strategic move that aligns with the company’s commitment to diversifying its product portfolio and enhancing its earnings and shareholders’ value. He also said that the company is expanding rapidly in several regions of the world, including South Asia, Southeast Asia, Africa, GCC, CIS, Canada, Europe, and Latin America.
SEARL is one of the largest pharmaceutical companies in Pakistan, with a market capitalisation of over Rs 100 billion. The company produces a wide range of products, including branded generics, consumer health, and animal health products. The company also operates a state-of-the-art manufacturing facility in the UAE, which has recently received approval from the UAE ministry.
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