Horizon Pharmaceutical.

Abstract

The Horizon Pharmaceutical Company in Pakistan faces critical challenges that impede its efficiency and efficacy, significantly impacting public health and the economy. One of the primary issues is the complex and corruption-laden process of registering new drugs. Companies must navigate a bureaucratic system where bribery and the use of references are rampant, delaying the availability of new medications and undermining the regulatory framework's integrity. This reliance on corrupt practices disadvantages ethical companies, stifles innovation, and limits access to potentially life-saving medications. Furthermore, drug pricing in Pakistan is highly inconsistent, creating significant challenges for consumers. Pharmacies charge variable prices for the same drugs, leading to confusion and financial strain due to the absence of a robust regulatory framework to monitor and control drug prices. Inadequate government intervention exacerbates these issues, as regulatory bodies like the Drug Regulatory Authority of Pakistan (DRAP) are often under-resourced and ineffective, allowing malpractices to flourish. Addressing these challenges requires a multi-faceted approach. Digitalization and increased transparency can improve the drug registration process by implementing an online portal and utilizing block chain technology to ensure accountability and reduce corruption. To tackle drug pricing issues, a national pricing policy that sets maximum retail prices for essential drugs is essential. Developing a centralized system to monitor drug prices and promoting the production of generic drugs can further ensure affordability and competition. Enhancing government intervention by empowering DRAP with necessary resources and authority, updating policies to align with international standards, and fostering public-private partnerships can establish a more robust regulatory framework. Mechanisms for public reporting and accountability can build trust and ensure continuous improvement. Overall, addressing these challenges is crucial for improving public health outcomes and fostering a competitive and innovative pharmaceutical company in Pakistan. Through concerted efforts and collaboration among all stakeholders, it is possible to create a more efficient, fair, and accessible pharmaceutical market, ensuring that the Pakistani population has access to safe, effective, and affordable medications.