Business, Events

International award recognizes Pakistani pharmaceutical firm

Karachi: a Pakistani pharmaceutical firm recently clinched an international award at the 6th Annual Global Generics and Biosimilars 2019 ceremony in Frankfurt, Germany. A locally-invented iron supplement made by the firm was declared as the best intervention to overcome iron-deficiency anemia among women and children.

Iron-deficiency anemia among women and children is found in around 50% of the population and is the leading cause of stunted growth, malnourishment, and serious health issues among Pakistani children. As many as 45 to 50% of Pakistani women of reproductive age (15-49 years) are also anemic due to iron deficiency.

The ‘orodispersible powder with encapsulated iron,’ invented and prepared by Pakistani Pharmaceutical firm, Pharmevo, was declared the most innovating product to combat iron-deficiency anemia among women and children during the CPhI Pharma Awards held in Frankfurt, Germany. The company was awarded the Business Development of the Year Award at the internationally acclaimed exhibition and awards ceremony.

In addition to clinching the top award, the Ferfer oral powder was also short-listed for the Value Added Medicine Initiative of the Year Award after it was found to be the most fast-acting product that can help alleviate iron deficiency anemia among women and children.

Felicitating his team of experts for the development and marketing of an internationally-acclaimed medicine, Managing Director of the local pharmaceutical firm Pharmevo, Haroon Qasim, said that the conferment of this prestigious global award to their firm at the most respected pharmaceutical forum in the world was a ‘proud moment’ for all of Pakistan and its pharmaceutical industry.

“The conferment of this prestigious award is a great achievement not only for us but also for the all of Pakistan as we will now be able to resolve our health issues, especially the problems revolving around iron deficiency anemia locally and develop products that are being praised and competing globally,” said Haroon Qasim while speaking at a recent ceremony at his factory.

He maintained that pharmaceutical business is not only a business but also a service to humanity and development of new, value-added products that help in saving the lives of people can be a source of satisfaction for the developers and producers of medicines. “Unfortunately, we are at least 20 to 25 years behind the world in every field, including the development of medicines. We need big jumps and untiring efforts to get to the developed nations in the area of health,” he added.

Chief Operating Officer (CCO) and Head of Business Development of Pharmevo, Nadeem Rehmat said that in a country where iron deficiency anemia is affecting over 50% of women and children, development of a powdered form of iron that is highly acceptable and popular among women and children is a significant achievement and their product has been declared as ‘game-changer’ in dealing with anemia.

“Iron supplements have been available in different forms for decades, but their acceptability and efficacy was not up to the mark. We have developed a product which is not only highly effective but also very pleasant for the taste buds of women and children. The lysosomal technique used to produce this product results in its absorption in the mouth and results in quick results in people facing iron deficiency anemia,” added Nadeem Rehmat.

December 9, 2019

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