Kathmandu, July 12: Nepali pharmaceutical company Quest Pharmaceuticals is preparing to establish a state-of-the-art Innovation Centre in Bhaktapur to manufacture complex medicines that are currently dependent on imports.
Speaking at an event organized to mark the company’s 25th anniversary (silver jubilee), Quest Executive Director Umesh Lal Shrestha unveiled the company’s future strategy and announced plans to establish the advanced Innovation Centre in Bhaktapur. He said research and innovation have become the company’s major priorities, adding that although Quest has expanded the foundation of domestic pharmaceutical production over the past 25 years, the next challenge lies in research and the adoption of new technologies.
According to Shrestha, preparations are underway to produce some complex medicines domestically through the Innovation Centre currently under construction in Bhaktapur, which until now have only been imported from abroad. He noted that Nepal’s pharmaceutical industry demonstrated its capacity by maintaining a continuous supply of medicines during the 2015 earthquake and the COVID-19 pandemic. He stressed the need for a clear government policy to promote the industry, adjust medicine prices, and encourage research and innovation. He added that the company aims to expand its production capacity while maintaining international quality standards.
At the silver jubilee ceremony, Member of Parliament Ganesh Parajuli said Quest had introduced new practices in Nepal’s pharmaceutical sector by becoming the first company in the country to introduce soft gelatin capsules and blister packaging technology. He said that as Nepal prepares to graduate to a developing country status, domestic pharmaceutical industries must now give greater priority to research, intellectual property rights, and international laboratory accreditation.
Federation of Nepalese Chambers of Commerce and Industry (FNCCI) President Anjan Shrestha said preparations were underway to establish a joint mechanism involving the Federation, the Confederation of Nepalese Industries (CNI), and the Nepal Chamber of Commerce to hold regular dialogue with the government to address problems faced by the private sector.
Established in 2056 BS, Quest Pharmaceuticals began commercial production in 2059 BS. Currently, domestic pharmaceutical companies account for nearly half of Nepal’s pharmaceutical market, which is valued at around Rs. 80 billion.
During the programme, company Chairman Shankar Das Shrestha emphasized the need for policy reforms, increased investment in research, and expansion of technical capabilities to make the industry more competitive.
People’s News Monitoring Service.
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