The Pakistani pharmaceutical business Citi Pharma Limited (CPHL) has partnered strategically with Mersi Farma, an Indonesian pharmaceutical company, to grow its nutraceutical market in Indonesia and set up production facilities for Active Pharmaceutical Ingredients (API).
On Tuesday, the listed business informed the Pakistan Stock Exchange (PSX) of the situation.
In order to create API production facilities and increase the accessibility of nutraceutical products in Indonesia, CPHL is pleased to announce the completion of a Memorandum of Understanding (MoU) with Mersi Farma.
CPHL will establish a paracetamol API plant facility under the terms of the Memorandum of Understanding, capable of producing 10,000 metric tons annually.
Additionally, a high-volume amoxicillin API factory with a 1,800 metric ton yearly manufacturing capability would be developed.
“The highest quality production processes will be ensured by these facilities meeting Pharmaceutical Inspection Co-operation Scheme (PIC/S) compliance standards,” the statement stated.
The strategic initiative intends to strengthen local production capacity, improve self-reliance, and contribute to Indonesia’s healthcare infrastructure. “The paracetamol and amoxicillin plants will serve as the first large-scale API manufacturing plants in Indonesia, greatly decreasing the country’s dependence on imported APIs,” CPHL stated.
Additionally, CPHL will integrate “technology to establish world-class production capabilities” and make a significant capital commitment under the MoU.
In order to supervise operations and maximize market distribution for APIs, Mersi Farma will co-invest and make use of its vast operational network in Indonesia.
Citi Pharma will launch its nutraceutical goods in the Indonesian market in addition to creating API factories. “Mersi Farma will use its local distribution framework to oversee the marketing, sales, and distribution of these products,” the statement stated.
