Citi Pharma bets big on Iraq market

September 22, 2025 (MLN): Citi Pharma Limited (PSX: CPHL) is planning to establish a new manufacturing facility in Iraq, marking a significant expansion into the Middle Eastern market.

The company's leadership team recently conducted a site visit to Iraq to mark the beginning of this milestone project.

During the visit, Citi Pharma CEO Rizwan Sheikh met with Iraq's Health Minister Dr. Salih al-Hasnawi to discuss strengthening healthcare collaborations between the two nations.

Iraq's pharmaceutical market, valued at approximately $5 billion, presents substantial opportunities for growth and expansion.

Citi Pharma has set ambitious targets to capture $1bn in market share over the next decade through a focus on innovation, quality manufacturing, and improved accessibility to essential medicines.

"This expansion reflects our commitment to strengthening regional healthcare, creating new opportunities, and making quality medicines more accessible to patients across the region," the company stated in its announcement.

The new manufacturing plant represents a significant investment in Iraq's healthcare infrastructure and is expected to create employment opportunities while contributing to the local economy.

The facility will focus on producing high-quality pharmaceutical products to meet regional demand.

For Citi Pharma, this expansion represents a strategic move to establish a stronger presence in the Middle Eastern pharmaceutical market.

The timeline for the plant's construction and operational launch has not yet been announced, but the company indicated that planning and development work is already underway following the recent site visit.

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