Pharmaceutical stocks on PSX: every listed drug maker compared

Medicines are something people keep buying in good years and bad, which makes Pakistan's listed drug makers a different kind of investment from cement or steel. Their profits depend less on the economic cycle and more on three things: what the government lets them charge, what their raw materials cost in dollars, and how many new products they can launch.

Below is every pharmaceutical company on PSX, largest first, with the numbers you need to compare them. The table updates itself.

Every pharmaceutical stock on PSX

What drives pharmaceutical profits in Pakistan

Drug prices are regulated

The Drug Regulatory Authority of Pakistan (DRAP) controls the prices of medicines. For years, price rises lagged far behind inflation and the rupee's fall, which squeezed margins across the industry. In 2024 the government freed the prices of medicines outside the essential medicines list, letting companies set those prices themselves. Essential medicines remain controlled. Any change to these rules moves the whole sector.

Raw materials are imported

Most active ingredients used by Pakistani drug makers are imported, largely from China and India. When the rupee weakens, costs rise straight away, while selling prices (especially for controlled medicines) catch up slowly. A stable rupee is good news for this sector; a sharp fall is bad news.

Multinationals and local companies

PSX lists both the Pakistani arms of global groups (GSK as GLAXO, Abbott as ABOT, Haleon as HALEON) and local companies such as SEARL, HINOON, AGP, FEROZ and CPHL. Multinationals tend to have well-known brands and pay steady dividends. Local companies often grow faster through new launches and exports, and some carry more debt.

How to read the table

• Market cap shows size. The largest companies are the most traded and easiest to buy and sell.
• P/E compares price with profit. Within this sector, a much higher P/E than peers usually means the market expects faster growth. A much lower one may point to a problem, such as a product losing its price approval.
• P/B matters less for drug makers than for banks. Their value lies in brands and approvals, which barely appear on the balance sheet.
• Dividend yield shows which companies pay out most of their profit. Multinationals usually lead here.

Open any company's page for its quarterly results, margins and recent announcements. Pharma margins can move a lot from one quarter to the next when prices or the rupee change.

Related guides

• Cement stocks on PSX
• Best dividend stocks on PSX
• Every pharmaceutical listing, by price and day change