ISLAMABAD: BF Biosciences Limited (BFBL), a subsidiary of Ferozsons Laboratories Limited, has secured approval from the Drug Regulatory Authority of Pakistan (DRAP) for its brownfield expansion, according to a notice released by Ferozsons to the Pakistan Stock Exchange (PSX).
The expansion includes the addition of a pre-filled syringes line, a liquid and lyophilised line, and a product development section.
BFBL has already started commercial production on the pre-filled syringes line, while the liquid and lyophilised lines are currently undergoing internal validation. Full-scale commercial production is expected to begin in the second quarter of FY 2024-25.
As part of its expansion, BFBL has also launched Sematide (Semaglutide) in a pre-filled syringe format. Sematide, the first Glucagon-Like Peptide 1 (GLP-1) receptor agonist to be locally manufactured in Pakistan, offers a new option for diabetes management. The drug is being produced at BFBL’s cutting-edge European pre-filled syringes facility.
This development follows the launch of Ferulin (Human Insulin), marking another significant step in BFBL’s commitment to providing affordable and accessible diabetes care in Pakistan. The company anticipates that both Ferulin and Sematide will contribute to its growth and further its mission to meet the needs of patients across the country.
In addition to its production expansion, BFBL’s listing application has been approved by the Securities and Exchange Commission of Pakistan (SECP) and the Pakistan Stock Exchange.
The company is preparing to launch an initial public offering (IPO) on the PSX, with plans to raise at least Rs1.375 billion ($4.94 million) through the issuance of 25 million shares at a floor price of Rs55 per share.