BF Biosciences Limited (BFBL), a leading Pakistani pharmaceutical company, has signed a contract manufacturing and supply agreement with Lucky Core Industries Limited (LCI).
The announcement was made by Ferozsons Laboratories Limited, BFBL’s parent company, in a notice to the Pakistan Stock Exchange (PSX) on Wednesday.
According to the notice, BFBL will manufacture and supply the products ‘Esopase IV 40 mg’ and ‘Etipro IV 40 mg’ under the agreement with LCI.
BFBL, a joint venture between Ferozsons Laboratories and Argentina’s Bagó Group, focuses on importing, manufacturing, marketing, and distributing pharmaceutical products. Recently, the company successfully launched a human insulin product under the brand name ‘Ferulin.’
Looking ahead, BFBL is planning an initial public offering (IPO) on the PSX to raise a minimum of Rs1.375 billion ($4.94 million) by issuing 25 million shares at a floor price of Rs55 per share.
Additionally, BFBL manufactures hepatitis-related medicines, including interferon injections. In 2020, it signed a non-exclusive license agreement with Gilead Sciences, Inc. to produce and sell the antiviral drug Remdesivir for COVID-19 treatment under Gilead’s Global Patient Solutions (GPS) Program. BFBL’s production of Remdesivir during the pandemic generated approximately Rs2 billion in revenue between FY2021 and FY2022.
