LAHORE: Citi Pharma Limited has entered into a joint venture with Hangzhou Newsea Technology Co., Ltd, marking a significant step in expanding its production of Active Pharmaceutical Ingredients (APIs) in Pakistan. The new entity, named ETACI Limited, will complement Citi Pharma’s current manufacturing capabilities by adding 20 new APIs to its production line. This initiative is part of Citi Pharma’s commitment to meet the increasing demands of the healthcare industry and to enhance the country’s self-sufficiency in pharmaceutical production.
Currently, Citi Pharma manufactures 20 to 22 types of APIs. The collaboration with Hangzhou Newsea, a leader in pharmaceutical technology from China, will not only double the production capacity but also bring advanced technological expertise to Pakistan. This joint venture is strategically planned to bolster the national economy by reducing reliance on imported pharmaceuticals, which will improve cost efficiency and strengthen the supply chain.
ETACI Limited is structured to allow Citi Pharma Limited a controlling interest of 65%, with Hangzhou Newsea holding the remaining 35%. The partnership is projected to generate substantial economic benefits, with an anticipated annual turnover of more than PKR 15,000 million, leading to a gross profit of approximately PKR 4,500 million. This financial uplift is expected to be achieved through the utilization of existing infrastructure and resources, which will minimize operating costs and enhance production efficiency.
This collaboration aligns with Citi Pharma’s Vision 2030, which focuses on enhancing pharmaceutical self-reliance and supporting the national economy by localizing the production of essential APIs. This venture not only promises to advance Pakistan’s pharmaceutical sector but also aims to position the country as a key player in the global pharmaceutical industry.
