Citi Pharma Limited (PSX: CPHL) has made a deal with India’s Murli Krishna Pharma (Private) Limited to exclusively supply high-quality Active Pharmaceutical Ingredients (APIs) and products to CPHL for the Pakistani market. According to the announcement to PSX on Tuesday, this agreement prohibits Murli Krishna Pharma Private Ltd from supplying these APIs in N-1 form to any other company in Pakistan besides Citi Pharma. This exclusivity grants Citi Pharma sole rights to market, distribute, and sell these products within Pakistan.
The filing clarified that Murli Krishna Pharma Private Ltd is committed to maintaining the highest quality standards in pharmaceuticals, meeting either British Pharmacopoeia (BP) or United States Pharmacopeia (USP) standards, or as specified by Citi Pharma’s regulatory team. Both companies view this commitment to quality and exclusivity as a significant achievement in delivering superior pharmaceutical products to the market.
The agreement is expected to contribute to a revenue increase of Rs. 2.8 billion, with associated costs rising by Rs. 2.38 billion. The filing noted that operational costs due to the agreement are projected to be minimal, leveraging Citi Pharma’s existing resources.
As of the filing, CPHL’s stock at the exchange was Rs. 32.19, showing a 9.01 percent increase of Rs. 2.66, with 5.19 million shares traded on Tuesday.
