BF Biosciences Limited, a subsidiary of Ferozsons Laboratories Limited, has received approval from the Drug Regulatory Authority of Pakistan (DRAP) for its brownfield expansion (Line II), which includes new production lines for pre-filled syringes, liquid, and lyophilized medications, as well as a product development section.
The company shared this development through a notice to the Pakistan Stock Exchange (PSX) on Monday in accordance with Sections 96 and 131 of the Securities Act, 2015 and Clause 5.6.1(a) of the PSX Rule Book.
The commercial production from the pre-filled syringes line has commenced, whereas the liquid and lyophilized line is under internal validation and will start commercial production from the second quarter of FY 2024-25, the company said.
Launch of Sematide (Semaglutide)
In addition to the expansion, BF Biosciences Limited has launched Sematide (Semaglutide) in pre-filled syringes. Sematide is the first Glucagon-Like Peptide 1 (GLP1) receptor agonist approved for local manufacture in Pakistan, offering a convenient solution for diabetes management. The pre-filled syringe eliminates dosing errors and is easy to use by the patients.
Sematide is being manufactured at the new state-of-the-art European prefilled syringes line of BF Biosciences Limited.
Pakistan has the highest prevalence of diabetes in the world. Even more alarmingly, 8.9 million individuals living with diabetes remain undiagnosed, and half of those who do know are struggling to manage it effectively. With a staggering 29% mortality rate, the need for effective treatment options has never been more urgent.
“Following the launch of Ferulin (Human Insulin), the launch of Sematide (Semaglutide) at an affordable price marks a significant step in our commitment to stop diabetes,” BF Biosciences added.
Being the 1st biotech plant in Pakistan, BF Biosciences Limited expressed their commitment to the production of essential medicines for the treatment of HCV, Cancer, Cardiology, and other therapeutic areas for over a decade.
“We are confident that Ferulin and Sematide will have a positive impact on our subsidiary’s growth and will further strengthen our mission to address unmet patient needs,” read the company’s notice.
Approval of listing application
In a further positive development, BF Biosciences’ listing application has been approved by both the Securities and Exchange Commission of Pakistan (SECP) and the Pakistan Stock Exchange (PSX). The company’s upcoming listing on the PSX marks a significant step forward in its expansion and growth plans.
