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Cost For Pharmaceutical Products To Increase Due To Power Shortage In China Says Ferozsons – AUGAF

Ferozsons does not expects remdesivir see demand to sustain in the long run

admin-augaf by admin-augaf
October 28, 2021
in Business
Reading Time: 3 mins read
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Pharmaceutical production cost to Increase

Pharmaceutical production cost to Increase

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Karachi October 28,2021: Ferozsons Laboratories has conducted its conference call today to discuss its 1QFY22 performance and future outlook. To note, company has posted unconsolidated PAT of PKR160mn (EPS: PKR4.43) as compared to PKR110mn (EPS: PKR3.05) in SPLY says Shuja Ahmed Research Analyst at Insight Securities in note published today.

On the cost front, company cannot pass on cost pressures to the customers immediately as prices are determined by DRAP and Govt. of Pakistan. Shortage of power in China has an industry wide impact as it supplies packing materials. Company has inventory of 5 months as of today but will have to buy new materials at inflated prices if situation does not improve.


A L S O || R E A D

Brokerage House expect OGDC to report profit of PKR23.4 billion


In 1QFY22, company has seen growth in topline mainly attributed to pharma products (18%) and medical devices (30%) Company received good demand from institutions in 4QFY21 for all its product lines. However, these tender offers cannot be forecasted going forward since they are uncertain.

On the remdesivir front, company does not see demand to sustain in the long run once global vaccination drives improve further. Commenting on its profitability, gross margins on local front are at breakeven levels whereas export margins vary based on country.

Company foresees prices of medical devices to increase from 1 st January, 2022 given extensive rupee depreciation in the recent months. These devices are imported mainly from China and Europe.

Company has incurred CAPEX of PKR3.5bn to install a FDA compliant plant for its Bio sciences project which will add 4-5 new products in its portfolio. The plant will be commissioned in 1QFY23.

To improve its local footprint amongst the medical community, company has increased its focus on CME (Continued Medical Education).


A L S O || R E A D

Pakistan Cables sales increased by 140 percent in 1QFY22


On its payout policy,the company will continue to remain conservative as it does not expect its subsidiary to pay out in the near future.
Ferozsons Laboratories Limited (PSX: FEROZ) was set up in 1954 as a private limited company and was later converted into a public limited company, in 1960. It was one of the first pharmaceutical manufacturing companies in Pakistan. The company imports, manufactures and sells pharmaceutical products and medical devices. Some of the company’s clients include United Nations, Federal Supply Services and other international relief agencies; it also exports to countries like Australia, Hong Kong, Singapore, Turkey, etc.

Ferozsons Laboratories Limited, has recently also organized nationwide awareness walks and illuminated the company’s headquarters in pink to commemorate Pinktober as part of its “Let’s Embattle Together” initiative against cancer.

Ferozsons Laboratories Limited CEO Osman Khalid Waheed said, “Breast cancer impacts too many women and their families in Pakistan, only because they are diagnosed in the late stages. This October our teams will be working with Oncologists and the medical community to carry out nationwide activities to raise awareness on the ground level. Early detection is the only way to save thousands of precious lives and combat breast cancer effectively.”


Related Posts

Engro, Fauji and Fatima Fertilizer companies to benefit as China Curbs on Fertilizer Exports

SBP raised minimum deposit rate by 1.5% on saving accounts

Pakistan Central Bank Reserves Hit Low of 8 Year On External Debt Repayment

Inflows in Roshan Digital Account Reached $6.1 Billion in April


Tags: BUSINESSCitiCovidFEROZImran Khanpakistan stock exchangePakistan Tahreek InsaafPSXPTISBPSEARL
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