Speaking to the media, FIA Deputy Director, Akbar Baloch said the raw material used in the manufacturing of the drugs had been seized and would be sent for further laboratory tests.
Baloch added that arrests would be made after receiving the lab reports and a complaint was filed by the drug department.
Meanwhile, Chief Minister Punjab, Shahbaz Sharif said on Wednesday that people responsible for deaths of the patients by faulty medicines would not be spared and would be dealt under the law.
According to initial reports, he said, most patients expired by over dozing of an anti-malarian tablet.
Shahbaz said the tablet manufactured by the Karachi-based pharmaceutical company supplied the tablets to pharmacies, including Punjab Institute of Cardiology (PIC).
The tablet, he said, was of 25 milligrams and was supposed to be taken once a week as per prescription while the patients were advised 50 milligrams daily. This 14 percent extra doze, he said, caused cardiac arrest to them.
Replying to a question, the chief minister said the first report had arrived from the United Kingdom and under its findings, the government had sent Inspector General of Police Punjab Javed Iqbal to seal the company.
"We have also informed interior ministry about the action," Shahbaz added.
The chief minister claimed that dengue issue was a conspiracy against his government.