ISLAMABAD: Pakistan’s Citi Pharma Limited (CPHL) and Martin Dow have partnered with Chinese pharmaceutical leader Kingbo Pharmatec to advance biotech and biologic manufacturing. The collaboration was formalized through a Memorandum of Understanding (MoU), as disclosed by CPHL in its notice to the Pakistan Stock Exchange (PSX) on Tuesday.
“This partnership seeks to reduce Pakistan’s dependence on imported medicines by fostering local production for domestic consumption and export,” the notice highlighted.
Under the agreement, the trio plans to build a state-of-the-art manufacturing facility in Indonesia. Designed to meet the needs of both Pakistani and international markets, the facility will adhere to stringent global quality standards.
“This collaboration not only elevates Pakistan’s pharmaceutical sector but also contributes significantly to the global industry,” the notice added.
Kingbo Pharmatec will spearhead the technical aspects of the initiative, including the facility’s setup and operation. Additionally, it will collaborate with Citi Pharma and Martin Dow to explore export opportunities, broadening the global reach of their products.
Citi Pharma emphasized that this venture aligns with its vision to bring advanced biologics and biotechnology products to Pakistan. “Producing these medicines locally will lower healthcare costs, conserve foreign exchange spent on imports, and solidify Pakistan’s position in the global pharmaceutical market,” it stated.
The partnership also promises broader economic benefits, including reduced medication costs, foreign exchange savings, and new revenue streams through international exports.
This development comes shortly after CPHL announced a strategic alliance with Indonesia’s Mersi Farma. The agreement focuses on establishing Active Pharmaceutical Ingredient (API) manufacturing facilities and expanding Citi Pharma’s nutraceutical market in Indonesia.
Confusing cause the manufacturing facility is being established in Indonesia and yet the article says it’ll help reduce imports in Pakistan. How?
great news. Pakistan earns a bad name for producing low quality pharmaceutical drugs. Sooner this reputation goes away better it will b . people should not b allowed to play with People’s health.
we should try to build every thing first class and make a name that way. change this reputation pk. and our people should act like the best people ehetevercthru go. the current reputation is aweful.
The article seems misleading. If the project is to built up in Indonesia, how it shall decrease reliance of Pakistani Medicines/Pharma on Imported Meds???