Top 10 Pharmaceutical Companies Listed on PSX

Pakistan’s pharmaceutical sector is a consistently expanding component of the national economy. Bolstered by growing healthcare service needs, a rising population, and amplified emphasis on local drug manufacturing, the industry is increasingly appealing to investors. Over the last ten years, pharmaceutical firms listed on the Pakistan Stock Exchange (PSX) have demonstrated strong results, with numerous entities growing their production capabilities to satisfy both domestic and international demands.

Pakistan’s pharmaceutical exports saw a remarkable 34% increase in the fiscal year ending June 30, 2025, achieving a two-decade high. This positioned the sector fifth among the country’s fastest-growing export categories, with sales of domestically produced medications reaching $457 million in foreign markets during FY25.

This analysis provides an in-depth examination of the top 10 pharmaceutical companies currently listed on the PSX, ranked by market capitalization as of July 24, 2025.

GlaxoSmithKline (PSX: GLAXO)

GlaxoSmithKline, established as a limited liability company, was formed through the merger of SmithKline and French of Pakistan Limited, Beecham Pakistan (Private) Limited, and Glaxo Wellcome (Pakistan) Limited. It operates through two divisions: prescription drugs and vaccines, and a consumer healthcare segment that includes over-the-counter (OTC) medicines, oral care, and nutritional products.

As of December 31, 2021, associated companies, undertakings, and related parties held over 82% of the shares, primarily S.R.One International B.V. The local general public owns 6% of the shares, with banks, Development Finance Institutions (DFIs), Non-banking Financial Institutions (NBFIs), and insurance companies each holding over 3%. The directors, CEO, their spouses, and minor children possess a negligible share, while the remaining approximately 5% of shares are distributed among other shareholder categories.

The market capitalization of GLAXO on the PSX is $438 million.

Abbott Laboratories Pakistan Limited (PSX: ABOT)

Abbott Laboratories Pakistan Limited is a multinational healthcare organization focused on delivering impactful medical technologies and services globally. Established as a public listed entity in Pakistan in 1948, Abbott engages in the manufacturing, importing, and marketing of pharmaceuticals, diagnostics, nutritional products, diabetic care solutions, hospital supplies, and consumer goods.

The market capitalization of ABOT on the PSX is $371 million.

Haleon Pakistan Limited

Haleon Pakistan Limited was established in Pakistan as a public limited company in 2015. The company’s primary operations include manufacturing, marketing, and selling consumer healthcare and over-the-counter health products. It is a subsidiary of Haleon Netherlands B.V., with Haleon plc as the ultimate parent entity.

Haleon recently unveiled intentions to boost its investment in Pakistan, starting with an initial allocation of $12 million to increase production capacity. The company stated it would enhance the production of Panadol to more effectively address the country’s growing demand and ensure a consistent supply of this essential medication.

Earlier in the year, Haleon appointed Qawi Naseer as the new Chief Executive Officer (CEO), following the transfer of the previous CEO and Executive Director of the Board, Farhan Muhammad Haroon, to Haleon South Africa as General Manager.

The market capitalization of HALEON on the PSX is $330 million.

Highnoon Laboratories Limited (PSX: HINOON)

Highnoon Laboratories Limited was incorporated in Pakistan as a private limited company in 1984 and transitioned to a public limited company in 1995. The company’s core business involves the manufacturing, importing, selling, and marketing of pharmaceutical and associated consumer products.

Earlier this month, Highnoon announced the appointment of Tariq Wajid (Independent Director) as the new chairman of the company, effective July 01, 2025.

The market capitalization of HINOON on the PSX is $202 million.

AGP Limited (PSX: AGP)

AGP Limited was incorporated in Pakistan as a public limited company in 2014. The company is involved in the import, export, marketing, distribution, dealership, and manufacturing of a wide range of pharmaceutical products. Aitkenstuart Pakistan (Private) Limited serves as the ultimate parent company of AGP.

The market capitalization of AGP on the PSX is $189 million.

The Searle Company Limited (PSX: SEARL)

The Searle Company Limited was incorporated in Pakistan as a private limited company in 1965 and subsequently converted into a public limited company. Its main activities include the manufacturing and sale of pharmaceutical, consumer health, and nutritional products. SEARL operates as a subsidiary of International Brands (Private) Limited.

International Brands (Private) Limited, the parent company of SEARL, holds 50.25% of its outstanding shares.

Earlier this month, SEARL announced the appointment of Tahir Ahmed as the Chief Executive Officer.

The market capitalization of SEARL on the PSX is $167 million.

Hoechst Pakistan Limited (PSX: HPL)

Hoechst Pakistan Limited was listed on the PSX in 1977. Through multiple mergers, acquisitions, and divestments over the years, the company’s name was changed to Sanofi-Aventis Pakistan Limited.

During 2023, a consortium led by Packages Limited, including IGI Investments (Private) Limited and affiliates of Arshad Ali Gohar Group, acquired the entire 52.87% stake from Sanofi Foreign Participations B.V. and renamed the company Hoechst Pakistan Limited, effective September 27, 2023.

Last year, Hoechst revealed plans to establish a subsidiary in the Gulf state to leverage the favorable business environment in the United Arab Emirates (UAE).

The market capitalization of HPL on the PSX is $105 million.

Citi Pharma Limited (PSX: CPHL)

Citi Pharma Limited was incorporated in Pakistan as a private limited company in 2012 and converted to a public unlisted company in 2020. CPHL was listed on the PSX in 2021. The company manufactures and sells pharmaceuticals, medical chemicals, and botanical products.

Last year, the company formed a strategic alliance with Mersi Farma, an Indonesian pharmaceutical company, to establish Active Pharmaceutical Ingredient (API) manufacturing facilities and grow its nutraceutical market in Indonesia.

The market capitalization of CPHL on the PSX is $66 million.

Macter International Limited (PSX: MACTER)

Macter International Limited was incorporated in Pakistan as a private limited company in 1992 and converted into a public limited company in 2011. The company manufactures and markets pharmaceutical products.

The market capitalization of MACTER on the PSX is $62 million.

Ferozsons Laboratories Limited

Ferozsons Laboratories Limited was incorporated in Pakistan as a public limited company in 1954. It was converted into a public limited company in 1960. The company’s principal activity is the manufacturing, importing, and selling pharmaceutical products and medical devices.

Earlier this year, Ferozsons announced it was considering a potential acquisition of Barrett Hodgson Pakistan Pvt Limited in partnership with a group of leading Pakistani business groups.

The market capitalization of FEROZ on the PSX is $60 million.

Note:

Market capitalization for each company was calculated on Thursday, July 24, 2025. The exchange rate used for this calculation was Rs284 to 1 US dollar.