Citi Pharma partners with Mersi Farma to boost API manufacturing
MG News | December 03, 2024 at 02:02 PM GMT+05:00
December 03, 2024 (MLN): Citi Pharma Limited (PSX: CPHL) has forged a strategic partnership with Mersi Farma, an Indonesia-based Based Leading Pharmaceutical Company, to Advance Active Pharmaceutical Ingredient (API) Manufacturing and Expand the Nutraceutical Market in Indonesia.
The company has signed a Memorandum of Understanding (MoU) with Mersi Farma, marking a transformative collaboration to establish API manufacturing facilities and expand nutraceutical product accessibility in Indonesia.
Key Provisions of the Partnership:
1. Development of Advanced API Manufacturing Facilities
- Paracetamol API Plant: A state-of-the-art facility with an annual production capacity of 10,000 metric tons per annum.
- Amoxicillin API Plant: A high-capacity plant with an annual production capacity of 1,800 metric tons per annum. These facilities will meet Pharmaceutical Inspection Co-operation Scheme (PICTS) compliance standards, ensuring the highest quality production processes.
The Paracetamol and Amoxicillin plants will be the first large-scale API manufacturing facilities in Indonesia, significantly reducing the country's dependence on imported APIs.
This strategic initiative aims to bolster local production capacity, enhance self-reliance and contribute to Indonesia's healthcare infrastructure.
2. Joint Investment and Expertise Deployment
- Citi Pharma Limited will provide substantial capital investment and integrate state-of-the-art technology to establish world-class production capabilities.
- Mersi Farma will co-invest and utilize its extensive operational network within Indonesia to oversee operations and optimize market distribution for APIs.
3. Nutraceutical Market Penetration in Indonesia
- Citi Pharma Limited will introduce its premium nutraceutical product range, catering to the growing demand for health and wellness solutions.
- Mersi Farma will manage the marketing, sales and distribution of these products through its robust and well-established local distribution framework.
4. Strategic Implications
This partnership is a cornerstone of shared efforts to:
- Drive innovation in the pharmaceutical and nutraceutical sectors.
- Enhance regional healthcare accessibility through localized and high-quality API manufacturing.
- Promote economic sustainability by reducing Indonesia's reliance on API imports and fostering local industrial growth.
With the first bulk API manufacturing plant in Indonesia, this collaboration represents a pivotal shift toward self-sufficiency and technological advancement in the country's healthcare landscape.
Looking Ahead
Citi Pharma Limited and Mersi Farina are dedicated to making this partnership a model of excellence in pharmaceutical production and distribution.
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