Karachi: Citi Pharma Limited has officially entered into an exclusive agreement with India-based Murli Krishna Pharma Private Ltd. This strategic partnership will see Murli Krishna Pharma supplying Active Pharmaceutical Ingredients (APIs) and products exclusively to Citi Pharma Limited for the Pakistani market.

Under the terms of the agreement, Murli Krishna Pharma has agreed not to supply any APIs in the N-1 form, which they will be providing to Citi Pharma, to any other company in Pakistan, except ail Pharma. This grants Citi Pharma Limited the exclusive rights to market, distribute, and sell these products within Pakistan.

Murli Krishna Pharma is committed to maintaining the highest quality standards, adhering to the British Pharmacopoeia or United States Pharmacopoeia standards, or as specified by Citi Pharma's regulatory team. The partnership aims to leverage existing resources of Citi Pharma, ensuring minimal increase in operational costs.

According to information available from the Pakistan Stock Exchange (PSX), this agreement is expected to generate a turnover increase of 2,800.00 million, with the cost of sales also rising by 2,380.00 million.

Following the successful completion of the initial two years of the agreement, known as Phase One, both companies plan to discuss and potentially expand their supply chain to other countries, including the USA and the Kingdom of Saudi Arabia.

Murli Krishna Pharma, with a history spanning 20 years, is recognized for its commitment to quality and has been a significant player in the pharmaceutical industry. The partnership between Citi Pharma and Murli Krishna Pharma underscores their mutual dedication to delivering superior pharmaceutical products to their customers.