AIRLINK 173.15 Increased By ▲ 15.74 (10%)
BOP 10.65 Increased By ▲ 0.28 (2.7%)
CNERGY 8.52 Increased By ▲ 0.20 (2.4%)
CPHL 97.46 Increased By ▲ 4.57 (4.92%)
FCCL 47.25 Increased By ▲ 0.52 (1.11%)
FFL 15.42 Increased By ▲ 0.54 (3.63%)
FLYNG 28.13 Increased By ▲ 1.15 (4.26%)
HUBC 138.91 Increased By ▲ 4.90 (3.66%)
HUMNL 12.81 Increased By ▲ 0.29 (2.32%)
KEL 4.54 Increased By ▲ 0.33 (7.84%)
KOSM 5.55 Increased By ▲ 0.16 (2.97%)
MLCF 62.26 Increased By ▲ 1.38 (2.27%)
OGDC 214.75 Increased By ▲ 6.23 (2.99%)
PACE 5.55 Increased By ▲ 0.15 (2.78%)
PAEL 44.86 Increased By ▲ 4.08 (10%)
PIAHCLA 18.70 Decreased By ▼ -0.10 (-0.53%)
PIBTL 10.74 Increased By ▲ 0.76 (7.62%)
POWER 12.26 Increased By ▲ 0.30 (2.51%)
PPL 173.87 Increased By ▲ 5.10 (3.02%)
PRL 36.22 Increased By ▲ 1.19 (3.4%)
PTC 23.56 Increased By ▲ 0.57 (2.48%)
SEARL 95.31 Increased By ▲ 2.21 (2.37%)
SSGC 39.13 Increased By ▲ 3.56 (10.01%)
SYM 14.02 Increased By ▲ 0.36 (2.64%)
TELE 7.23 Increased By ▲ 0.28 (4.03%)
TPLP 10.29 Increased By ▲ 0.29 (2.9%)
TRG 64.68 Increased By ▲ 4.01 (6.61%)
WAVESAPP 10.04 Increased By ▲ 0.34 (3.51%)
WTL 1.33 Increased By ▲ 0.03 (2.31%)
YOUW 3.70 Increased By ▲ 0.05 (1.37%)
BR100 12,492 Increased By 252.4 (2.06%)
BR30 37,694 Increased By 1300.9 (3.57%)
KSE100 116,189 Increased By 2036.1 (1.78%)
KSE30 35,750 Increased By 549.8 (1.56%)

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.

Comments

200 characters