Islamabad: The Ambassador of Argentina Rodolfo J. Martin Sarabia called on Federal Minister for Health Mr. Ijaz Hussain Jakhrani here and discussed matters pertaining to cooperation in Health sector.
The Ambassador apprised the Minister that the Ferozsons Laboratories Limited and Bago Group of Pharmaceutical Companies of Argentina have recently entered into a joint venture agreement to build the first Biotech Pharmaceutical Manufacturing Plant in Pakistan which will be inaugurated by the Prime Minister of Pakistan very soon. He said that the plant is being build on a 27 acre Site near Raiwind, Lahore, and will manufacture biogeneric medicines for the treatment of cancer and hepatitis C. He said it is being developed as the manufacturing hub for the Asian Region and beyond for the products made at this Plant. He said that the potential export market for this plant includes Asia, the Middle East, Russia and the CIS countries. The global market for biogenerics is set to increase exponentially, with about US $13.1 Billion worth of biotech molecules coming off patent in 2008. He informed the Minister that Argentina had been a friend of Pakistan and provided a highly antibiotic medicines to the victims of earthquake in 2005. He said that Argentina also provided 1.2 million US dollar to the people of Pakistan for treatment of cancer. He said that there are vast opportunities in health, housing and education where both Argentina and Pakistan can cooperate. He said that Argentina can help Pakistan building a Radio Active Isotopes for cancer therapy.
The Minister thanked the Ambassador of Argentina for providing support to Pakistan in the health sector and hoped that Argentina would continue to support Pakistan in this regard. He said that Biotech Pharmaceutical Manufacturing plant being set up through a joint venture in Pakistan will not only provide employment to a large number of Pakistani but also earn a foreign exchange for Pakistan by exporting the product of this company.
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