LIVEN Pharma signs MoU with China’s TOFFLON for pharmaceutical technology collaboration

LIVEN Pharma Limited has signed a Memorandum of Understanding (MoU) with TOFFLON Science and Technology Group Co., Ltd. of China to explore cooperation in pharmaceutical and biotechnology manufacturing technologies, according to a notice submitted to the Pakistan Stock Exchange on Wednesday.

The company said the MoU was signed with TOFFLON Science and Technology Group Co., Ltd., People’s Republic of China, a manufacturer of pharmaceutical, biotechnology and aseptic processing plants, production systems and advanced manufacturing technologies.

The agreement was executed on behalf of TOFFLON by Mr. Michael Chang, Senior Vice President, TOFFLON Science and Technology Group, and on behalf of LIVEN Pharma Limited by Chief Executive Officer Mr. Kaashif Hussain.

The signing took place in Shanghai during CPHI, according to the notice.

LIVEN Pharma said the MoU forms part of its Vision 2030 plan, under which the company aims to transform itself into a fully integrated pharmaceutical and biotechnology enterprise.

The company said the plan includes acquisition of advanced manufacturing technologies, localisation of production capabilities and development of pharmaceutical and biological manufacturing infrastructure in Pakistan.

According to the notice, LIVEN Pharma believes it has become the first Pakistani pharmaceutical company to secure the willingness of a globally recognised Chinese pharmaceutical technology group to formally pursue investment and strategic industrial collaboration in Pakistan’s pharmaceutical and biological manufacturing sector through such a framework arrangement.

The company said the collaboration is expected to support its long-term objectives, including localisation of advanced pharmaceutical and biotechnology manufacturing, improved export competitiveness, strengthening of national healthcare infrastructure and reduction in reliance on imported high-value biological products.

However, LIVEN Pharma clarified that the MoU only establishes a framework for future cooperation.

It said any definitive agreements, investment decisions, capital commitments or projects arising from the MoU would remain subject to technical evaluations, commercial negotiations, regulatory approvals, corporate approvals and execution of definitive agreements, where applicable.

The company added that the communication should not be treated as confirmation of any definitive agreement, arrangement or commitment at this stage.