Pakistan’s pharmaceutical company BF Biosciences Limited (BFBL) has successfully launched a human insulin under the brand name ‘Ferulin’.
The development was shared by Ferozsons Laboratories Limited, the parent company of BFBL, in a notice to the Pakistan Stock Exchange (PSX) on Thursday.
“We are pleased to inform you that BF Biosciences Limited, a subsidiary of Ferozsons Laboratories Limited, has successfully launched human insulin under the brand name ‘Ferulin’,” read the notice.
It is pertinent to inform that human insulin is a synthetic form of insulin that is identical to the insulin produced naturally by the human pancreas. Insulin is a hormone that plays a crucial role in managing blood glucose levels, especially for people with diabetes.
Meanwhile, the company in its statement said the launch marks a significant milestone in its commitment to stop diabetes, expand the product portfolio and enhance the availability of life-saving medicines in the market.
“Ferulin has been developed with the highest quality standards and is intended to provide effective and affordable diabetes treatment to patients across Pakistan,” the company claimed.
“We are confident that Ferulin will positively impact our subsidiary’s growth and will further strengthen our mission to address unmet patient needs,” it added.
BFBL, a joint venture between Ferozsons Laboratories Limited and Argentina’s Bagó Group, specialises in the import, manufacturing, marketing, and distribution of pharmaceutical products.
The company is planning an initial public offering (IPO) at the PSX, aiming to raise at least Rs1.375 billion ($4.94 million) by issuing 25 million shares at a floor price of Rs55 per share.
The company is a pioneer in local manufacturing of hepatitis related medicines (i.e. interferon injections).
In 2020, BFBL executed a non-exclusive license agreement with Gilead Sciences, Inc. for the manufacture and sale of Remdesivir (an anti-viral drug for the treatment of COVID-19 patients) under Gilead’s Global Patient Solutions (GPS) Program.
BFBL successfully produced Remdesivir during the COVID-19 pandemic, contributing approximately Rs2 billion to its topline in FY2021-FY2022.
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