The pharmaceutical manufacturing industry in Asia Pacific region is growing at a rapid pace. The growth is evident in terms of contract manufacturing as well as emergence of new brands in the market. Pharmaceutical manufacturing companies have acquired new portfolios of acclaimed brands and have also started manufacturing their own subject specific medications. One of those is AGP from Karachi, Pakistan. The company has been in the industry for more than three decades and has witnessed the shifting trends of the industry by strategizing its growth accordingly. ASIA Business Outlook magazine engaged in a conversation with the senior management of AGP to know more about the company and the value it is adding to the pharmaceutical industry.
What are the factors that sets AGP apart from the other players in the pharmaceutical industry?
AGP has partnered with some of the major global pharmaceutical powerhouses like Eli-lily, Alcon, UCP, and GSK and by virtue of this collaboration our manufacturing systems, production processes, and Quality Management System are very robust. AGP holds various certifications that help distinguish itself from other players in the market. Firstly, our General Healthcare and Cephalosporins manufacturing facilities are Good Manufacturing Practices-certified (cGMP) and our Nutraceuticals plant is US FDA-certified. Moreover, the company holds various ISO certifications including ISO- 9001:2015 (Quality Management System – QMS), ISO- 14001:2015 (Environmental Management System), and ISO 45001:2018 (Occupational Health and Safety Management System).
The company focuses on organic growth through market penetration and extension of product line as well as inorganic growth via potential merger and acquisitions with an emphasis to gain market share.
Walk us through the management’s academic and professional journey. Also, tell us about the various roles that they have played in the company over the years.
Tariq Moinuddin Khan, the Chairman of the OBS Group (parent company of AGP), and majority owner of AGP, is a graduate of Concordia University, Montreal and has a Post Graduate Diploma in Public Accountancy from McGill University. He is also a Certified Management Accountant from Ontario and a Certified Public Accountant from California. He started his career working with leading firms in Canada, after which he moved to Saudi Arabia to work with the Saudi Royal family. He later joined Organon Pharma BV where he served as the Managing Director for Saudi Arabia and Pakistan.
He formed OBS Group in 2006 when he acquired Organon’s Pakistan business through a management buyout. Apart from this, he is also the Honorary Consul General of Netherlands in Karachi, Secretary General of World Federation of Consuls Brussels for Pakistan Chapter, and former President of Pakistan Sri Lanka Business
Forum to promote trade between the two countries and Member of ASPEN Institute (USA).
The Managing Director and CEO of AGP, Nusrat Munshi has an experience of over 31 years in the banking and pharmaceutical sectors. She holds a BBA (Hons) and MBA from the Institute of Business Administration, Pakistan and a second MBA from the Queens University, Canada. Beginning her career in the banking industry she has gained a rich experience in various domains. She has also worked with HSBC Canada in the capacity of Regional Corporate Head of Pakistan before joining AGP in 2007. Under her leadership, AGP went through some major events, including the change of ownership in 2014, and AGP’s public listing on the Pakistan Stock Exchange in 2018. She also holds Directorships on the Board of OBS AGP, and Aspin Pharma.
Tell us about the unique offerings that the company is known for in the market. What are the various advantages that clients can derive by utilizing these services?
AGP is a flagship company of OBS Group, which is amongst the top 10 local pharmaceutical groups in Pakistan and is engaged in manufacturing, marketing, import and export of licensed and generic drugs. There are more than 55 brands with over 130 SKUs in AGP’s portfolio, comprising both pharmaceutical and nutraceutical products. In the year 2021, AGP successfully acquired a portfolio of 22 pharmaceutical brands with over 50 SKUs from Sandoz AG, which were previously commercialized in Pakistan under Sandoz brand. Our areas of expertise are Paediatrics, Gynaecology, Internal Medicine, Oncology, and Orthopedic. AGP ensures availability of its products across the country through a well-renowned distributor, Muller & Phillips which possesses state-of-the-art infrastructure and distribution networks all over Pakistan.
Being well known for CSR, in the year 2022, AGP has obtained World Wildlife Foundation’s Green Office certification, making it the second Pakistani pharmaceutical company to obtain it. With this certification, AGP has pledged to cut down on its resource usage and reduce its carbon footprint.
AGP focuses on organic growth through market penetration and extension of product line as well as inorganic growth via potential merger & acquisitions with an emphasis to gain market share
What is the future roadmap for AGP?
AGP will continue to develop a strong value chain of healthcare products to strengthen its brand portfolio and be better equipped for dealing with uncertainties and volatilities to external factors. The company will continue to actively pursue organic and inorganic growth. Organically, we are planning to penetrate deeper into markets, enter new therapeutic classes, launch new products and line extensions and develop a strong foothold in cross-border destinations. As for inorganic growth, we are currently in the process of acquiring 18 brands from Viatris, previously being marketed by Pfizer in Pakistan which is pending necessary regulatory approvals.
Nusrat Munshi Managing Director and CEO
Standing Apart
AGP strives towards sustainable growth by capitalizing on its own resources on the back of strong business fundamentals driven by robust demand of key products, quality manufacturing capabilities and in-depth management expertise.
It owns a diverse portfolio of brands catering to several therapeutic classes, which has enabled it to generate a higher growth rate than the local industry. Moreover, the company possesses quality human resources capital, state-of-the-art manufacturing facilities, and a nation-wide, well-penetrated distribution network that sets it apart from its competition.
Based on its core values of preserving and improving lives, the company forms partnerships and undertakes various projects with regards to its CSR activities, by investing in social wellbeing, by making business practices eco-friendly, producing quality life-saving drugs, and providing a nurturing workplace culture. Moreover, its activities are planned and undertaken with a focus on sustainable development goals (SDGs). AGP currently pursues 10 of the 17 SDGs, most notable of which are zero hunger (SDG 2), good health and wellbeing (SDG 3), and Quality Education (SDG 4), with plans to work on the remaining seven.
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