Ferozsons Laboratories’ Subsidiary Gets Approval for IPO At PSX

The Securities and Exchange Commission of Pakistan (SECP) and the Pakistan Stock Exchange (PSX) have approved the listing application of BF Biosciences Limited. The total issue size of the Initial Public Offering comprises 25 million ordinary shares having a par value of Rs. 3/- each using the Book Building Method at a Floor Price of Rs. 55/- per share. Meanwhile, BF Biosciences has secured approval from the Drug Regulatory Authority of Pakistan (DRAP) for its brownfield expansion (Line II) which includes the pre-filled syringes line, liquid and lyophilized line, and product development section. The commercial production from the pre-filled syringes line has commenced, whereas the liquid and lyophilized line is under internal validation and will start commercial production in the second quarter of FY 2024- 25. BF Biosciences Limited has launched Sematide (Semaglutide) in a pre-filled syringe. Sematide is the first Glucagon-Like Peptide 1 (GLP1) receptor agonist approved for local manufacture in Pakistan, offering a convenient solution for diabetes management. The pre-filled syringe eliminates dosing errors and is easy to use by the patients. Sematide is being manufactured at the new state-of-the-art European prefilled syringes line of BF Biosciences Limited.