Citi Pharma and MKPL Forge Strategic Pharmaceutical Partnership

Citi Pharma Limited (CPHL), a leading pharmaceutical company in Pakistan, has recently announced a significant partnership with Murli Krishna Pharma Private Ltd (MKPL) from India. This collaboration aims to enhance the supply of high-quality pharmaceutical products in the Pakistani market.

Under the agreement, MKPL will exclusively supply Active Pharmaceutical Ingredients (APIs) and products to CPHL for distribution in Pakistan. This strategic alliance was unveiled in a notice to the Pakistan Stock Exchange (PSX), highlighting the commitment of both companies to deliver top-notch pharmaceutical solutions.

MKPL, a reputable Indian company with 20 years of experience, specializes in providing innovative pharmaceutical preparations. As part of the partnership, MKPL has agreed to provide APIs exclusively to CPHL, granting CPHL sole rights to market and sell these products within Pakistan.

Adhering to stringent quality standards, MKPL will follow either British Pharmacopoeia (BP) or United States Pharmacopeia (USP) standards as required by regulatory authorities. This ensures that the pharmaceutical products meet the highest quality benchmarks in the industry.

The collaboration is projected to significantly boost CPHL's turnover by Rs2.8 billion, with a corresponding increase in cost of sales by Rs2.38 billion. Despite the rise in operational costs, CPHL is confident in its ability to efficiently utilize existing resources.

Looking ahead, both CPHL and MKPL are exploring opportunities to expand their partnership beyond Pakistan, potentially targeting markets such as the USA and the Kingdom of Saudi Arabia. This strategic move underscores their shared commitment to growth and excellence in the pharmaceutical sector.

The positive impact of this collaboration is already evident in Citi Pharma's stock performance, with its share price rising to Rs32.19 following a gain of Rs2.66 during the trading session. Approximately 5.3 million shares were exchanged, reflecting investor confidence in the future prospects of CPHL.

The alliance between Citi Pharma Limited and Murli Krishna Pharma Private Ltd marks a significant milestone in the pharmaceutical industry, promising enhanced access to high-quality pharmaceutical products for consumers in Pakistan. This partnership not only signifies a commitment to excellence but also sets the stage for potential expansion into international markets, signaling a bright future for both companies.