Pakistan’s pharmaceutical industry continues to show strong growth, fueled by rising healthcare demand, a booming population, and an increased focus on domestic medicine production. In FY25, Pakistan’s pharma exports grew by 34%, reaching $457 million, making it one of the fastest-growing export sectors.
As investor interest in healthcare stocks grows, here’s a look at the Top 10 pharmaceutical companies on the Pakistan Stock Exchange (PSX) ranked by market capitalization as of July 24, 2025.
1. GlaxoSmithKline Pakistan Limited (GLAXO) – $438 Million
GlaxoSmithKline (PSX: GLAXO) is one of the largest multinational pharma players in Pakistan, formed through the merger of SmithKline & French, Beecham Pakistan, and Glaxo Wellcome.
Core business: Prescription drugs, vaccines, OTC medicines, oral care, and nutrition.
Ownership: 82% owned by S.R.One International B.V., with the rest held by public and institutional investors.
2. Abbott Laboratories Pakistan Limited (ABOT) – $371 Million
Abbott (PSX: ABOT), established in 1948, manufactures and markets pharmaceuticals, diagnostics, nutritionals, and diabetic care products.
Key focus: High-quality medical technologies & hospital supplies.
3. Haleon Pakistan Limited (HALEON) – $330 Million
Haleon (PSX: HALEON), a subsidiary of Haleon Netherlands B.V., focuses on consumer healthcare and OTC products.
Recent development: Announced a $12M investment to boost Panadol production in Pakistan.
4. Highnoon Laboratories Limited (HINOON) – $202 Million
Highnoon (PSX: HINOON) is a local pharma success story engaged in manufacturing, importing, and marketing a wide range of medicines.
Leadership update: Tariq Wajid appointed as Chairman in July 2025.
5. AGP Limited (AGP) – $189 Million
AGP (PSX: AGP), incorporated in 2014, deals in imports, exports, and manufacturing of various pharmaceutical products.
Ultimate parent: Aitkenstuart Pakistan (Pvt) Limited.
6. The Searle Company Limited (SEARL) – $167 Million
Searle (PSX: SEARL) produces pharmaceuticals, nutritional supplements, and consumer health products.
Major shareholder: International Brands Pvt Ltd holds 50.25% shares.
7. Hoechst Pakistan Limited (HPL) – $105 Million
Formerly Sanofi-Aventis Pakistan, HPL underwent major restructuring after a consortium led by Packages Ltd acquired it in 2023.
Expansion: Plans to open a UAE subsidiary.
8. Citi Pharma Limited (CPHL) – $66 Million
Citi Pharma (PSX: CPHL) manufactures APIs, pharmaceuticals, and nutraceuticals.
International move: Partnered with Indonesia’s Mersi Farma to expand API manufacturing.
9. Macter International Limited (MACTER) – $62 Million
Macter (PSX: MACTER) specializes in the manufacturing and marketing of diverse pharmaceutical products.
10. Ferozsons Laboratories Limited (FEROZ) – $60 Million
Ferozsons (PSX: FEROZ), one of Pakistan’s oldest pharma firms, manufactures and markets medicines and medical devices.
Growth move: Exploring acquisition of Barrett Hodgson Pakistan Pvt Ltd.
Key Takeaways
✅ Pharma exports at 20-year high – $457M in FY25
✅ Local manufacturing expansion – Multinationals boosting production
✅ Investor-friendly sector – Healthcare demand remains resilient
The pharma sector’s robust growth on PSX makes it an attractive choice for investors looking at defensive and long-term opportunities.
