MEDCO’s goal is to become one of Pakistan’s premier companies in the field of healthcare. Through its three separate divisions, MEDCO has targeted three very distinct segments of the country’s healthcare market:
MEDCO Distribution: We import and distribute medical products and equipment
made by some of the world’s leading biotech and pharma-
ceutical companies.
According to World Health Organization's statistics, Pakistan has over 120,000 doctors, approximately 72,000 nurses and more than 8,000 pharmacists to serve it's population of 160 million people. The country's estimated yearly expenditure on healthcare is in excess of $9 billion. MEDCO has positioned itself to take advantage of this ever expanding market by delivering state-of-the-art medical products and equipment to the country’s professional caregivers.
MEDCO Manufacturing: We manufacture generic drugs for local distribution.
When generic products become available, market competition leads to substantially lower prices for both the original brand name product and its generic forms. Therefore for a country like Pakistan, where the average per capita income is amongst the lowest in the world, market demand for generic drugs is huge. MEDCO intends to sign JV agreements with international companies with a ready stable of FDA approved generic drugs and obtain local manufacturing and distribution rights for Pakistan. It also plans on selling these same drugs to its JV partner for international distribution.
MEDCO CRO: Medco has taken a lead role in bringing the lucrative business of
clinical trial outsourcing to Pakistan. Through its Medco CRO division,
we are actively pursuing European, Japanese and US, pharmaceutical
and biotech companies for their clinical trials business.
A 2006 Massachusetts Institute of Technology study estimates, that by the year 2009, international biotech and pharmaceutical companies will spend in excess of $7 billion to outsource their companies’ drug discovery and medical equipment testing programs to countries like China and India. The International Herald Tribune in an article published in 2005, estimated that India’s clinical trial business grew from $30 million in 2001 to $122 million in 2003 and is slated to reach $2 billion in 2010. We at MEDCO strongly believe that Pakistan, with its healthcare infrastructure comparable to that of India’s and its local currency 35% cheaper, is very favorably placed to attract substantial outsourcing business of clinical trials, from international biotech and pharmaceutical companies.
Also, MEDCO has actively promoted the idea of creating a contract clinical trials industry in Pakistan by
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Successfully eliciting the support of the Pakistani Government in crafting favorable policy and regulations to help attract this business |
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By successfully building strategic relationships with the Country’s many internationally recognized teaching hospitals, medical universities and research facilities where these trials will need to take place. |
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Plans to open a satellite office in California’s biotech valley of San Diego, California. Having a US presence will give American biotech companies the added confidence and peace of mind and thus be very helpful in bringing contract clinical research business for MEDCO. |
Considering that the business of clinical trials, for all practical purpose, is non-existent in Pakistan and MEDCO being the first major venture in this space, the scope is unlimited in terms of opportunities, growth and expansion.
MEDCO leverages its very large network of contacts, both in the public and the private sectors, to help open markets for its line of products and services. Additionally, MEDCO is fortunate to have a very distinguished and high-powered Board of Advisors. With their incomparable wealth of experience and contacts, MEDCO has quickly been able to gain access to a vast majority of the country's care givers, not only as customers for it’s products but also as partners (centers) in the running of clinical trials for MEDCO’s international biotech and pharmaceutical clients.
MEDCO is focused and determined to become Pakistan's premier medical services and supplies company and in pursuit of that goal, we, along with the active help and support of the local caregivers, hope to make a valid and meaningful contribution in elevating the standard of healthcare in the Pakistan.
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