Citi Pharma and Martin Dow join hands with Chinese firm to revolutionize Pakistan’s biotech sector
Wire desk byline Sourced from Xinhua, Dawn, Arab News, Anadolu and Minute Mirror. Translated and abridged by the GSRRA Desk.
Landmark partnership to establish cutting-edge biotech manufacturing facility aimed at reducing medicine imports and boosting exports.
Pakistan’s Citi Pharma Limited (CPHL) and Martin Dow have partnered with Chinese pharmaceutical leader Kingbo Pharmatec to advance biotech and biologic manufacturing. The collaboration was formalized through a Memorandum of Understanding (MoU), as disclosed by CPHL in its notice to the Pakistan Stock Exchange (PSX) on Tuesday.
“This partnership seeks to reduce Pakistan’s dependence on imported medicines by fostering local production for domestic consumption and export,” the notice highlighted.
Under the agreement, the trio plans to build a state-of-the-art manufacturing facility in Indonesia. Designed to meet the needs of both Pakistani and international markets, the facility will adhere to stringent global quality standards
“This collaboration not only elevates Pakistan’s pharmaceutical sector but also contributes significantly to the global industry,” the notice added.
Kingbo Pharmatec will spearhead the technical aspects of the initiative, including the facility’s setup and operation. Additionally, it will collaborate with Citi Pharma and Martin Dow to explore export opportunities, broadening the global reach of their products.
Citi Pharma emphasized that this venture aligns with its vision to bring advanced biologics and biotechnology products to Pakistan. “Producing these medicines locally will lower healthcare costs, conserve foreign exchange spent on imports, and solidify Pakistan’s position in the global pharmaceutical market,” it stated.
The partnership also promises broader economic benefits, including reduced medication costs, foreign exchange savings, and new revenue streams through international exports.
This development comes shortly after CPHL announced a strategic alliance with Indonesia’s Mersi Farma. The agreement focuses on establishing Active Pharmaceutical Ingredient (API) manufacturing facilities and expanding Citi Pharma’s nutraceutical market in Indonesia.
Reference Link:- https://profit.pakistantoday.com.pk/2024/12/10/citi-pharma-and-martin-dow-join-hands-with-chinese-firm-to-revolutionize-pakistans-biotech-sector/
Zamir Ahmed Awan is the founder and Chair of the Global Silk Route Research Alliance, a think tank in Islamabad. He studied engineering at Shanghai University in the 1980s, and years later he went back to China as Pakistan's science counsellor in Beijing, from 2010 until 2016, working on science and higher education cooperation between the two countries.…
