Kathmandu, Jan. 14: Amid the ongoing challenges posed by the global pandemic, Nepal Aushadhi Limited, a government-owned pharmaceutical company in Nepal, is gearing up to address the growing demand for essential medicines. In particular, the company has set its sights on lessening the shortage of Paracetamol in the market.

The reliability of white-coloured Paracetamol has made it a sought-after choice among consumers, leading to increased demand nationwide. Recognizing the need for a robust response, Nepal Aushadi Limited, the parent company, is embarking on an ambitious plan to expand its production and contribute to public welfare.

Under the directive of Prime Minister Pushpa Kamal Dahal ‘Prachanda,’ Nepal Aushadhi Ltd. is set to produce an additional 20 types out of 98 essential medicines for free distribution to the public. The move comes as a strategic response to ensure the availability of critical drugs during these challenging times.

Kailash Kumar Paneru, the General Manager of Nepal Aushadhi Ltd., informed that the company is actively preparing to meet the heightened demand by producing medicines locally. The initiative has received the support of the Ministry of Finance, which is disbursing over Rs. 247.8 million to facilitate the expansion of the company’s production capacity.

In a collaborative effort, agreements have been inked between the Ministry of Industry and Nepal Aushadhi Ltd. to enhance the institutional capacity of the pharmaceutical company. The funds provided will be utilized for the purchase of raw materials, machinery, and the renovation and expansion of production amenities.

Nepal Aushadhi Ltd. aims to meet the current demand by diversifying its product offerings. Previously known for producing 146 types of medicines, the company shifted its focus to the production of Cetamol. However, the recent plan includes diversification in production and investments to stay competitive in the market.

Acknowledging the challenges of navigating a competitive market, General Manager Paneru expressed confidence that the expansion of the company’s capacity will position it to compete effectively with other drugs available in the market. He emphasized the readiness of Nepal Aushadhi Ltd. to provide quality medicines, stating that collaboration with local levels across the country will be integral to enhancing the distribution strategy.

Looking ahead, Nepal Aushadhi Ltd. plans to convert its existing space into a self-generating complex, establishing a ‘medical hub’ to operate commercially. This strategic move aims to further expand production operations and enhance the company’s competitiveness.

Paneru highlighted the government’s primary objective is to produce and distribute 98 types of medicines for public access. The company’s commitment to reducing the reliance on imported pharmaceuticals aligns with recent statistics from the Trade and Export Promotion Centre, revealing imports of pharmaceuticals worth NPR 16.08 billion in the current fiscal year.

As the company progresses with its expansion plans, Nepal Aushadhi Ltd. envisions contributing significantly to the reduction of the annual import bill for medicinal products, thereby bolstering Nepal’s self-reliance in the pharmaceutical sector.