Getz Pharma (Private) Limited (Getz or the Company) is a private limited company operating in Pakistan’s pharmaceutical sector since 1995. The Company was incorporated in Pakistan on September 19, 1995, under the repealed Companies Ordinance, 1984, and is currently governed under the Companies Act, 2017. Getz Pharma operates as a standalone legal entity and undertakes the formulation, manufacturing, and marketing of pharmaceutical products across domestic and international markets.

Getz Pharma (Private) Limited was established in 1995. The Company commenced its business operations from its head office in Karachi in 2004. Since inception, Getz Pharma has demonstrated strong growth and has consistently maintained its leading market position, ranking at the top in terms of sales as reported by IQVIA. Over the years, the Company has evolved into one of Pakistan’s largest pharmaceutical companies and the country’s leading exporter of pharmaceutical products. Getz Pharma has built a significant international footprint, exporting to over forty five countries across Asia, Africa, and the Americas, supported by WHO prequalified manufacturing facilities in Karachi. The Company is recognized for its strong commitment to quality, continuous investment in local pharmaceutical manufacturing, and contribution to the economy as a major taxpayer and employer.

Getz Pharma (Private) Limited undertakes its business activities through an integrated structure comprising an in-house research and development center, manufacturing facilities, and dedicated marketing and sales teams. The Company is primarily engaged in the manufacturing, import, and marketing of pharmaceutical and auxiliary products, producing tablets, capsules, liquid and powdered injections, metered dose inhalers, and dry powder inhalers. Getz Pharma is Pakistan’s largest branded generic pharmaceutical company and a leading investor and exporter in the sector, with a diversified portfolio of over 300+ products across multiple therapeutic areas including cardiometabolic, gastroenterology, anti-infectives, and respiratory care. Manufacturing operations are anchored by its state-of-the-art Astola Plant in Karachi, which is approved by WHO, PIC/S, and EAEU and is the first LEED Platinum certified pharmaceutical facility in South Asia, reflecting a strong focus on quality, sustainability, and advanced technology. A robust research and development function supports the design and development of therapeutically equivalent medicines, including Pakistan’s first locally manufactured insulin, enabling the Company to effectively serve both domestic and international markets across Asia, Africa, and other regions.

The Company operates as a wholly owned subsidiary within an international holding structure. Ultimate ownership rests with overseas investment entities, with shareholding divided between two principal holding vehicles. The ownership framework reflects a combination of family-controlled and professionally managed interests, providing strategic oversight and continuity.

Getz Pharma’s ownership is considerrd stable, and the structure has remained unchanged for decades, reflecting long-term control and continuity. Veteran leadership, brings decades of industry experience and business acumen, ensuring consistent strategic direction. The sponsors’ extensive global business portfolios and diversified ventures further reinforce the financial and operational stability of the Company.

The Getz Group, established in the 1880s, has built a strong reputation as a leading player in the pharmaceutical industry. Getz Pharma (Private) Limited has a nationwide presence in Pakistan, supported by a dedicated field force of over 3,200 medical representatives and more than 100 marketing professionals. The Company’s growth from its early days to becoming Pakistan’s largest pharmaceutical company reflects the owners’ strong business acumen, strategic vision, and ability to successfully scale operations while maintaining market leadership. The long-standing experience and expertise of the sponsoring families underpin effective decision-making, operational excellence, and sustained competitive advantage.

The Company maintains a sizeable consolidated asset base and a solid equity position, underpinning its overall financial strength. It benefits from the backing of a well-established shareholder group with diversified business interests, which enhances financial flexibility and provides comfort in terms of long-term support. This strong capital foundation supports the Company’s ongoing investments in manufacturing capabilities, research and development initiatives, and geographic expansion, while also contributing to balance sheet resilience and funding optionality.

The Company’s Board of Directors comprises seasoned professionals with extensive experience in the pharmaceutical and healthcare sectors, including representatives of the parent entity. The Board provides strategic oversight and ensures alignment with the Company’s long-term objectives, leveraging significant industry knowledge to guide operational and strategic decisions.

The Board combines deep sector expertise and global management experience, with members contributing decades of leadership in the pharmaceutical and healthcare industries. This collective experience supports effective oversight, strategic planning, and the Company’s long-term growth, while also bringing insights into governance best practices.

The Board actively monitors business performance and meets regularly to review strategy, key developments, and emerging risks and opportunities. While governance is strengthened by the directors’ experience and engagement, the absence of independent directors and specialized committees may limit formal oversight. Introducing independent oversight and structured committees could further enhance governance, risk management, and strategic decision-making.

EY Ford Rhodes Chartered Accountants, a Big Four accounting firm are the external auditors of the Company, thefirm is in the A Category of SBP’s panel of auditors. They have expressed an unqualified opinion on the financial statements for the year ended June'24. The financial audit for FY25 is under process.

The Company operates a traditional hierarchical organizational structure, with multiple functional departments reporting to senior leadership. Key functions include Sales, Marketing, Finance, Human Resources, IT, Legal, Production, Quality, and Supply Chain, each led by experienced professionals. Strategic direction is supported by an executive-level committee, while operational processes are integrated through an enterprise system that consolidates finance, sales, production, and HR functions. This structure balances global and local operations, enabling effective management across markets while emphasizing talent development, research and development, and a culture of innovation. It provides clear authority, accountability, and operational efficiency throughout the organization.

The Company is led by a seasoned Chief Executive supported by a core management team with extensive experience and long-standing association with the organization. This leadership team oversees day-to-day operations, strategic initiatives, and growth programs, ensuring continuity, operational stability, and alignment with the Company’s long-term objectives.

There is a management committee-the Executive Committee, comprising fourteen members, chaired by the CEO.

Getz Pharma has implemented and is using all key modules of SAP ECC-6.0. The suite provides a real-time end-toend integrated solution for all operations including financial, sales and marketing, production, procurement, quality management, and human capital management. SAP's upgraded database version (HANA) has also gonelive.

A detailed MIS comprising an income statement, the segment-wise and the region-wise breakup of revenue andprofit, efficiency variance reports, receivables, payables and inventory aging report, operational expenditure summary, etc. is submitted to the CEO monthly. The Business Intelligence module provides a bird’s-eye view of the Company’s data at a glance, aiding the top management in strategic decision-making.

According to international monitoring firm IQVIA, Pakistan’s pharmaceutical sector recorded a 21.79% growth incalendar year 2024 compared to the previous year, reaching a market value of Rs. 962.5 billion. This growth has largely been driven by a deregulatory policy introduced earlier in the year, which allowed pharmaceutical companies to adjust prices for non-essential medicines in response to rising production costs. The revenue surge was primarily the result of price adjustments, rather than a significant increase in unit sales. The industry remains heavily dependent on imported active pharmaceutical ingredients (APIs), making it vulnerable to supply chaindisruptions and foreign exchange volatility, particularly due to the depreciation of the Pakistani Rupee (PKR). This has constrained the industry's ability to pass on costs, especially in the essential medicines segment, where pricing remains regulated. Over the past year, the sector sold 3.7 billion units, reflecting a modest volume growthof 2.27%, while revenue growth was largely price-driven.

Getz Pharma has a blend of its own range of 'branded generics'. The Company is the largest player in the domestic Pharma industry and is also among the top 50 largest exporters pf the Country. Its currency exchange risk isrelatively protected because exports constitute 31% of the total revenues. It is the only Pharmaceutical Company that has received international accreditations by the WHO-Geneva. It holds a market share of ~7%.

During the period under review, the Company demonstrated growth, continuing momentum across both domestic and international markets. Expansion in exports underscores continued geographic diversification and growing international traction. Overall topline growth was driven by volume increases, portfolio expansion, and effective price management.

As of FY25, the gross profitability remained healthy during the period, reflecting sustained cost discipline and operational efficiency despite ongoing inflationary pressures on inputs. Gross margins stayed broadly stable, indicating the company’s ability to effectively manage costs and protect profitability. Net profitability remained solid, supported by improved core operating performance. However, margins moderated compared to the earlier period, primarily due to a higher effective tax rate, which offset operational gains. Finance costs were well managed, benefiting from an improved debt structure and a reduced reliance on short-term borrowings toward the end of the period.

Getz Pharma continues to leverage group synergies, such as bulk procurement discounts and enhanced bankingterms. The Astola Project, its greenfield expansion initiative, is a strategic response to existing capacity constraints. This facility is critical to sustaining momentum in both the local and export markets through 2025 and beyond.

Working capital efficiency improved, supported by tighter inventory management, stronger receivable turnover, and disciplined operational practices. The reduction in the working capital cycle reflects effective management of inventory and receivables, contributing to enhanced liquidity and operational flexibility.

The Company’s liquidity and cash flow coverages strengthened during the period, underpinned by solid operational performance and favorable working capital movements. Core cash flows improved, reflecting robust internal cash generation, while interest coverage and cash flow-to-finance cost metrics remained at levels that support debt servicing requirements. The stable debt payback profile underscores the Company’s capacity to meet obligations comfortably from internally generated cash flows.

The Company maintained a stable capital structure, with a balanced mix of debt and equity. The composition of borrowings improved in risk profile, with a shift toward longer-term funding, while equity growth strengthened the Company’s ability to absorb additional leverage and support future growth initiatives. This solid capitalization framework enhances balance sheet resilience and provides financial flexibility for strategic investments.