KARACHI: Citi Pharma, a Pakistani pharmaceutical company, has partnered with an Indian company, Murli Krishna Pharma Pvt Ltd (MKPL).

Citi Pharma on Tuesday informed the shareholders in a stock filing that it has entered into an agreement with MKPL, a company incorporated and existing under the relevant laws of India.

Under the agreement, MKPL will supply Citi Pharma Ltd. with Active Pharmaceutical Ingredients (APIs) and products in the Pakistani market.

“This exclusive strategic partnership aims to establish the terms and conditions under which Murli Krishna Pharma Private Ltd will supply high-quality APIs and products exclusively to CPHL in the Pakistan market,” said the notice.

“This exclusivity ensures that Citi Pharma Limited will have the sole right to market, distribute and sell these exclusive products within Pakistan,” the company added.

PPL discovers gas reserves in Sindh

Separately, Pakistan Petroleum Ltd (PPL) on Tuesday informed the shareholders that the company has discovered gas reserves from its exploratory well in Khairpur district, Sindh.

In a notice to the Pakistan Stock Exchange, PPL announced that a gas discovery has been made from the exploratory well Tor-1 in Latif Block, located in Khairpur, Sindh.

United Energy Pakistan Beta has 33.40 per cent working interests in the well, which is operated by its joint venture partners PPL and Prime Pakistan Ltd, which have 33.30pc working interests each.

Published in Dawn, July 3rd, 2024