Citi Pharma Limited (CPHL), a Pakistani pharmaceutical company, has entered into a strategic partnership with Mersi Farma, an Indonesian pharmaceutical entity, to establish Active Pharmaceutical Ingredient (API) manufacturing facilities and expand its nutraceutical market in Indonesia.
The listed company shared the development in a notice to the Pakistan Stock Exchange (PSX) on Tuesday.
“CPHL is proud to announce the signing of a Memorandum of Understanding (MoU) with Mersi Farma, marking a transformative collaboration to establish API manufacturing facilities and expand nutraceutical product accessibility in Indonesia,” read the notice.
Under the MoU, CPHL will set up a paracetamol API plant facility with an annual production capacity of 10,000 metric tons per annum.
Moreover, a high-capacity amoxicillin API plant would also be established with an annual production capacity of 1,800 metric tons per annum.
“These facilities will meet Pharmaceutical Inspection Co-operation Scheme (PIC/S) compliance standards, ensuring the highest quality production processes,” it said.
“The paracetamol and amoxicillin plants will be the first large-scale API manufacturing facilities in Indonesia, significantly reducing the country’s dependence on imported APIs,” said CPHL, adding that the strategic initiative aims to bolster local production capacity, enhance self-reliance and contribute to Indonesia’s healthcare infrastructure.
Under the MoU, CPHL will also provide substantial capital investment and integrate “technology to establish world-class production capabilities”.
“Mersi Farma will co-invest and utilize its extensive operational network within Indonesia to oversee operations and optimize market distribution for APIs.
Apart from developing API plants, Citi Pharma will also introduce its nutraceutical products in the Indonesian market. “Mersi Farma will manage the marketing, sales and distribution of these products through its local distribution framework,” it said.
In September, CPHL commenced exports of nutraceuticals to the United States.
In July, Citi Pharma entered into a strategic partnership with India’s Murli Krishna Pharma Private Ltd (MKPL). Under the agreement, MKPL would supply APIs and products to CPHL in the Pakistani market.
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