External broker reports(aggregated public sources), Topline Securities

Topline Securities

Topline Securities is one of the fastest growing brokerage houses in Pakistan. It has strong equity brokerage, economic / equity research, mutual fund distribution, commodity trading and corporate finance & advisory functions. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

External broker reports(aggregated public sources)

Thematic (Sector/Industry)

Pakistan Pharmaceuticals / Thematic (Sector/Industry)

<ul><li>The Lahore High Court on April 02, 2024, disposed off the case in favour of the pharmaceutical industry and the stay order against deregulation of Maximum Retail Price (MRPs) of drugs has been vacated, according to our channel checks with pharma companies. A detailed order is awaited for more clarity.</li><li>Background: On Feb 20, 2024, the government approved deregulation of drug price which falls in the category of other than essential. However, on Feb 22, 2024, an individual went to the Lahore High Court where he obtained a stay, and the court sought clarification from the Federal Government.</li><li>2018 Pricing Policy: As per DRAP 2018 policy, the retail prices of pharmaceutical products had been linked to the Consumer Price Index (CPI) effective from Jul 01, 2018. This pricing formula allows pharma companies to increase prices by giving 30 days notice to DRAP (no need of prior approval) vs. 6 Months lag that used to delay increase in prices.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

The Lahore High Court on April 02, 2024, disposed off the case in favour of the pharmaceutical industry and the stay order against deregulation of Maximum Retail Price (MRPs) of drugs has been vacated, according to our channel checks with pharma companies. A detailed order is awaited for more clarity.Background: On Feb 20, 2024, the government approved deregulation of drug price which falls in the category of other than essential. However, on Feb 22, 2024, an individual went to the Lahore High Court where he obtained a stay, and the court sought clarification from the Federal Government.2018 Pricing Policy: As per DRAP 2018 policy, the retail prices of pharmaceutical products had been linked to the Consumer Price Index (CPI) effective from Jul 01, 2018. This pricing formula allows pharma companies to increase prices by giving 30 days notice to DRAP (no need of prior approval) vs. 6 Months lag that used to delay increase in prices.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Pakistan Equity - Pharmaceuticals Sector; Court dismissed petition in favour of pharma companies