Islamabad: Pakistan’s Citi Pharma Limited (CPHL) and Martin Dow have partnered with Chinese pharmaceutical company Kingbo Pharmatec to develop biotechnology and biomanufacturing. The collaboration has been formalized through a Memorandum of Understanding (MoU), as revealed by CPHL in its notification to the Pakistan Stock Exchange (PSX) on Tuesday.
“This partnership seeks to reduce Pakistan’s dependence on imported medicines by promoting local production for local consumption and export,” the notification stressed.
Under the agreement, the trio plans to build a modern manufacturing facility in Indonesia. The facility has been designed to meet the needs of both Pakistani and international markets and will adhere to stringent global quality standards.
“This collaboration not only elevates the Pakistani pharmaceutical sector but also contributes significantly to the global industry,” the notification added.
Kingbo Pharmatec will lead the technical aspects of the initiative, including setting up and operating the facility. In addition, it will collaborate with Citi Pharma and Martin Dow to explore export opportunities, expanding the global reach of their products.
City Pharma emphasized that this project is in line with its vision to bring advanced biological and biotechnological products to Pakistan. “Producing these medicines locally will reduce healthcare costs, conserve foreign exchange spent on imports, and enhance Pakistan’s position in the global pharmaceutical market,” he stated.
The partnership also promises broader economic benefits, including lower drug costs, foreign exchange savings, and new revenue streams through international exports.
This development comes shortly after CPHL announced a strategic alliance with Indonesian company Mersi Farma. The agreement focuses on establishing active pharmaceutical ingredient (API) manufacturing facilities and expanding Citi Pharma’s nutraceuticals market in Indonesia.