Karachi: Citi Pharma Limited, in a strategic move, has announced a partnership with Indonesia's Mersi Farma to bolster Active Pharmaceutical Ingredient (API) manufacturing and expand the nutraceutical market in Indonesia. The partnership, formalized through a Memorandum of Understanding (MOU), aims to establish significant API production facilities and broaden the reach of nutraceutical products in the region.
On October 2023, Citi Pharma Limited and Mersi Farma outlined key provisions of their partnership. A central component of this collaboration is the development of advanced API manufacturing facilities. This includes a paracetamol API plant with an annual capacity of 10,000 metric tons and an amoxicillin API plant capable of producing 1,800 metric tons annually. These facilities will adhere to Pharmaceutical Inspection Co-operation Scheme (PICTS) compliance standards, making them the first large-scale API manufacturing facilities in Indonesia. The initiative is expected to reduce Indonesia's reliance on imported APIs, enhance local production capacity, and contribute to the country's healthcare infrastructure.
The partnership also involves joint investment and expertise deployment. Citi Pharma Limited will provide significant capital investment and advanced technology to establish these production capabilities. Mersi Farma will co-invest and leverage its operational network within Indonesia to manage operations and optimize market distribution for APIs.
In addition to API manufacturing, the partnership aims to penetrate the Indonesian nutraceutical market. Citi Pharma Limited will introduce its nutraceutical product range, addressing the increasing demand for health and wellness solutions. Mersi Farma will oversee the marketing, sales, and distribution of these products through its established local distribution network.
According to information available from the Pakistan Stock Exchange (PSX), this partnership is positioned to drive innovation in the pharmaceutical and nutraceutical sectors, enhance healthcare accessibility through localized API manufacturing, and promote economic sustainability by reducing Indonesia's dependency on API imports.
This collaboration represents a shift towards self-sufficiency and technological advancement in Indonesia's healthcare landscape. Both Citi Pharma Limited and Mersi Farma are committed to making this partnership a model of excellence in pharmaceutical production and distribution, with further updates on milestones and achievements to be shared.