Karachi, Ferozsons Laboratories Limited informed Pakistan Stock Exchange that the management of the Company has decided not to renew its Distribution Agreement with GE Healthcare FZE, which was due for renewal in September 2019. The decisions has been taken in light of strategic business re-alignment.
The Corporate History of the Ferozsons Group began in 1894, when its Founder Maulvi Ferozuddin Khan established the Ferozsons publishing house. From the outset, their founder’s corporate vision involved playing a meaningful role in the education and health of the underprivileged population of the sub-continent.
Consequently, Ferozsons Laboratories Limited was created in 1954 as one of the first pharmaceutical manufacturing facilities in the fledgling state of Pakistan. The company commenced operations in 1956, and in 1960 became the first Pakistani pharmaceutical company to be listed on the Pakistan Stock Exchange.
They have a consistent track record of financial performance, and are 6-time recipient of the Karachi Stock Exchange’s ‘KSE Top 25 Companies Award’.
Through their range of branded generics and in-licensed products, they have attained market leadership in the areas of cardiology, oncology, gastroenterology, dermatology and anti-infective markets in the Pakistan. These products are now being exported to markets in Asia and Africa, and they are actively seeking export opportunities in other markets.
Ferozsons is the Pakistan marketing and distribution partner for the Boston Scientific Corporation, USA for its range of cardiac and peripheral products and interventional devices. This partnership will allow us to further strengthen their channels in cardiology, oncology, and G.I. fields.
The symbol “FEROZ” is being used by the stock exchanges for the shares of Ferozsons Laboratories Limited.