Novo Nordisk eyeing Pakistan potential – The Post

Novo Nordisk eyeing Pakistan potential

Pharma giant expects annual growth rates in Pakistan to be about 30 percent

March 5th, 2014 3:03 pm| by admin

Danish pharmaceutical giant Novo Nordisk has made inroads into the market in Pakistan and expects a rosy future thanks to a growth rate of around 30 percent per year.

Novo Nordisk has almost tripled its employee numbers in Pakistan in a few short years from 53 in 2010 to 153 now, and Lars Rebien Sørensen, the head of Novo Nordisk, sees great potential.

“We believe that by intensifying the efforts in Pakistan at an early stage we can influence the development of the health system,” Sørensen told Børsen newspaper. “Businesses-wise, Pakistan has massive potential at the moment.”

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Limited local awareness
Sørensen’s favourable evaluation of Pakistan’s potential is based on figures that show that there are 6.7 million diabetics in the nation – a number that is expected to double in the next 20-25 years.

The reason for the jump is the limited awareness amongst the Pakistani population concerning health and lifestyle-related illness. Many diabetics in Pakistan don’t receive adequate treatment.

Sørensen has only just returned from a trip to Pakistan where he spoke with a number of leading politicians, including the health minister, about the issue.

Novo Nordisk has had a subsidiary operating in Pakistan since 2005, but had already launched insulin products in the Pakistani market back in 1989.