Citi Pharma Ltd, Pakistan’s largest API manufacturer, has become the first exporter of nutraceutical products and multivitamins to the United States, following formal approval from the US Food and Drug Administration (FDA).
In a stock filing on Friday, the company said it received its first payment of $109,500 for an initial shipment.
Citi Pharma announced that the FDA has granted approval for its nutraceutical products, paving the way for its formal market launch in the US in September 2024.
The approved products span a variety of categories, including fertility, weight management, stress and mood boosters, hair and skin care, and treatments for joint and muscle pain.
This approval underscores Citi Pharma’s adherence to rigorous international quality standards, allowing the company to enter the highly competitive US market by exporting finished nutraceutical products.
CEO Mr. Rizwan, who spearheaded this initiative, credited the achievement to the company’s focus on quality and innovation.
In addition to its existing line of API and formulations, Citi Pharma’s expansion into nutraceuticals is expected to generate approximately $3 million in annual revenue, with margins projected between 25% and 30%.
The company anticipates further growth with the FDA approval, enhancing its credibility in global markets and opening doors for international partnerships and investments.
Citi Pharma offers an extensive section of API, formulations, and nutraceutical product lines for both local and global customers. Their product lines include tablets, capsules, powder sachets, syrups, ointments, and gels, as well as injections, infusion, and SUS.
