Citi Pharma Limited (PSX: CPHL), Pakistan’s largest API manufacturer, has become the country’s 1st nutraceutical product to receive FDA approval in the United States and formal ground launch in September 2024.
According to the stock filing, Citi Pharma received approvals in the following categories:
- Fertility
- Weight management Stress and Mood booster
- Hair & Skin Care
- Joint and Muscle pains
This approval allows the company to enter the highly competitive US market by exporting the finished nutraceutical products.
The company offers an extensive section of API, Formulations, and Nutraceutical product lines for both Local and Global customers. Their product lines are Tablets, Capsules, Powder Sachets, Syrups, Ointments and Gels, Injections, Infusion and Sus.
The financial implications are significant, with the company expecting to generate approximately $3 million annually from this new revenue stream, alongside impressive profit margins of 25-30 percent.
“This FDA approval not only boosts Citi Pharma’s credibility but also positions the company as a growing global player, potentially attracting further investment and international partnerships,” the filing added.
The principal activity of the company is the manufacturing and sale of pharmaceuticals, medical chemicals and botanical products.
At the time of filing, the company’s scrip at the main bourse was Rs. 35.72, up 3.63 percent or Rs. 1.25 with over 2.33 million shares on Friday.
Are this company’s products available
within Pakistan or these are meant for export to USA alone? If these are for export only, this would mean the people within the country will have to survive on number 3 stuff like onions, bananas etc. that were exported to earn dollars and their price skyrocketed while the quality drastically went down.