Listed pharma companies’ profits rise 28% in FY26 as margins reach a record
Listed drug makers earned Rs42.2 billion in FY26 on sales of Rs377.9 billion, with gross margins at an all-time high of 42.8%.
Pakistan’s listed pharmaceutical companies had their most profitable year on record in FY26, according to a sector report cited by ARY News on 6 October 2026.
The numbers
| Listed pharma companies | FY25 | FY26 |
|---|---|---|
| Net sales | Rs342.6 billion | Rs377.9 billion (+10%) |
| Profit | — | Rs42.2 billion (+28%) |
| Gross margin | 38.9% | 42.8% |
Fourth-quarter sales rose 3% to Rs88.9 billion, with the gross margin holding at 42.8%.
What drove it
The report attributes the profit growth mainly to higher medicine prices and lower financing costs. It also notes that medicine prices in urban centres rose sharply in 2024 and 2025, and that sales tax on medicines adds to the cost for consumers.
The wider market
The listed companies are part of a much larger market. Industry and DRAP figures reported by ProPakistani put the retail market at Rs1.251 trillion in FY26, up 14.88%, with unit volumes up only 0.93% — see our market article.
What it means for suppliers
- Healthier margins give manufacturers room to invest in equipment, quality systems and new products.
- With volumes flat, the investment case is about efficiency, compliance and exports rather than raw capacity.
- Policy risk remains: the pricing framework is under review (see deregulation two years on).
Machinery, packaging and laboratory suppliers meet these manufacturers at Pharma Asia 2026.
