BF Biosciences Limited (), a subsidiary of Ferozsons Laboratories Limited, has successfully launched human insulin under the brand name “Ferulin.”
The pharma company shared this development with the Pakistan Stock Exchange (PSX) through a notice on Thursday.
Ferulin has been developed with the highest quality standards and is intended to provide effective and affordable diabetes treatment to patients across Pakistan.
“This launch marks a significant milestone in our commitment to stop diabetes, expand our product portfolio and enhance the availability of life-saving medicines in the market,” read the notice.
Being the 1st Biotech Plant in Pakistan, BF Biosciences Limited has been committed to the production of essential medicines for the treatment of HCV, Cancer, Cardiology and other therapeutic areas for over a decade, it said.
“We are confident that Ferulin will positively impact our subsidiary’s growth and will further strengthen our mission to address unmet patient needs,” the pharma company added.
BF Biosciences was incorporated as an unlisted public limited company under the Companies Ordinance, 1984 (now Companies Act, 2017) in 2006, and operates within the pharmaceutical industry.
Ferozsons Laboratories holds 80% of the equity of BF Biosciences and the remaining 20% is held by Grupo Empresarial Bagó S.A., Spain. BF Biosciences, recognized as Pakistan’s first biotech plant, has been producing essential medicines for over a decade, catering to therapeutic areas such as HCV, cancer, and cardiology.
Earlier on August 8, BF Biosciences announced its plans to raise approximately Rs 1.37 billion through an Initial Public Offering (IPO) as it applied for listing on the Main Board of the Pakistan Stock Exchange (PSX).
According to a PSX notice, the IPO will consist of 25 million ordinary shares, which constitutes 28.3% of the total post-IPO paid-up capital of the company, with a par value of PKR 3 each.
Arif Habib Limited will be the lead manager for the issue.
The entire Issue will be offered through the Book Building Method at a Floor Price of PKR 55 per share (including the premium of PKR 52.00/- per share) with a maximum price band of up to 40%.
