ISLAMABAD: Citi Pharma Limited (CPHL) has achieved a major milestone in Pakistan’s pharmaceutical sector by completing its first-ever export to the MENA region, worth EUR 560,000, the company announced on Thursday.
The successful export order follows the company’s recent FDA accreditation, which was announced on 20th September 2024. In its update to the Pakistan Stock Exchange (PSX), CPHL confirmed that it had already received an advance payment of EUR 200,000 and has now collected the remaining EUR 360,000, finalizing the transaction.
The company is targeting a total annual export value of EUR 8,000,000 to EUR 10,000,000 to the MENA region, with plans to match that amount for other global markets, including North America. CPHL expressed that this achievement marks the beginning of a broader international expansion strategy, aimed at strengthening its market presence and unlocking new opportunities.
“We are focused on growth and enhancing shareholder value, and we will keep our stakeholders updated on our progress,” the company stated.
In addition to its pharmaceutical success, CPHL has expanded into the real estate sector, with the formation of Citi REIT Management Company, a fully owned subsidiary. The board also approved the establishment of an antibiotic plant and is in ongoing discussions to form a joint venture for the development of a hospital.
