ISLAMABAD: Citi Pharma Limited (CPHL), a prominent Pakistani pharmaceutical firm, is set to construct a healthcare complex in Lahore that will include a 200-bed hospital and a medical science university. The company announced this development in its annual report submitted to the Pakistan Stock Exchange (PSX) on Wednesday.
As part of its strategy for vertical diversification, CPHL revealed plans to establish a state-of-the-art hospital in Lahore, which is home to approximately 13.4 million residents, according to the World Population Review. The city currently faces a significant shortage of quality healthcare facilities.
CPHL has secured a 12-Kanal plot on Pine Avenue, directly across from DHA Lahore, for the new facility. The company aims to meet the healthcare needs of this densely populated area with its hospital.
“Our projects are aligned with our vision to expand our business while contributing to Pakistan’s healthcare and education sectors by fostering innovation and training future medical professionals,” stated Rizwan Ahmad, CEO of CPHL.
In addition to the hospital, CPHL will also establish a medical university in Lahore. Last month, the company began exporting nutraceuticals to the United States, projecting an annual revenue of approximately $3 million with profit margins between 25% and 30%.
Earlier this year, CPHL entered into a strategic partnership with India’s Murli Krishna Pharma Private Ltd (MKPL), enabling MKPL to supply active pharmaceutical ingredients and products to CPHL for the Pakistani market.
