PSX hosts gong ceremony for Haleon's Panadol expansion

October 17, 2023 (MLN): The Pakistan Stock Exchange (PSX) held a gong ceremony to announce the building of an in-house manufacturing facility for the Panadol portfolio by Haleon Pakistan Limited, a world-leading Consumer Healthcare company and a listed company on the PSX.

The gong ceremony was attended by the British High Commissioner to Pakistan, Jane Marriott, as the Chief Guest, said a press release issued on Monday.

The team from the British High Commission and Haleon Pakistan Limited were received at the Stock Exchange by the MD & CEO PSX, Farrukh H. Khan, and Board member(s) PSX along with the Exchange's senior management.

The gong was struck by the Chief Guest, Jane Marriott, and the CEO of Haleon Pakistan Limited, Farhan M. Haroon, in the presence of MD and CEO PSX, Farrukh Khan, Board member(s) PSX, the team from the British High Commission and senior management of both Haleon Pakistan and PSX.

Speaking on the occasion, the MD & CEO PSX, Farrukh Khan stated, “I warmly welcome the British High Commissioner to Pakistan, Jane Marriott, her team, the CEO of Haleon Pakistan, Farhan Haroon, and the Haleon Pakistan management team, to PSX."

He was of the view that their visit to PSX would serve as a confidence-building measure for the UK-based companies in Pakistan and will send a positive message to the PSX-listed companies to enhance business and trade with companies in the UK.

"I would also like to congratulate Haleon Pakistan on the launch of their Panadol Expansion project. Multinationals operating in Pakistan have historically enjoyed excellent profitability." the CEO stated.

"Haleon’s further investment reinforces their commitment to Pakistan and highlights the opportunities presented by Pakistan’s economy.” he further added.

The CEO & General Manager of Haleon Pakistan Limited, Farhan Muhammad Haroon, added, “Under the project, Haleon Pakistan Limited will be investing $10 million in its manufacturing facility at Jamshoro to bring the latest technology to Pakistan and enhance the production of Panadol to 8 billion tablets."

This will help ensure smooth supplies of Pakistan’s largest pharmaceutical / Over-the-Counter medicine to needy patients.

This is in addition to the investment of $2m being spent on enhancing the manufacturing facility of CaC1000 Plus to cater to the local needs and export opportunities that the ompany is currently working on.

As a leading Consumer Healthcare Company, this investment is a testament to its commitment towards improving self-care in Pakistan.

British High Commissioner to Pakistan,  Jane Marriott, stated, “This investment will expand production capabilities and develop product lines to meet the growing healthcare demands of the Pakistani people. If Pakistan can continue improving its business environment, we will undoubtedly see more new investments from existing UK investors.”

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