Pakistan's Citi Pharma and Saudi's All Care partner to boost API production in KSA

Pakistan's Citi Pharma has formed a strategic partnership with Saudi Arabia's All Care group to build a cutting-edge facility in the Kingdom for the production of Active Pharmaceutical Ingredients (API), according to a press release issued by Citi Pharma.

This partnership is a significant move toward enhancing pharmaceutical self-sufficiency in the region. All Care will oversee land acquisition, infrastructure development, product registration with Saudi regulatory bodies, and secure financing through local banks.

This joint venture is set to address critical healthcare demands across Saudi Arabia and the broader Middle East and North Africa region, which serves a population of over 500 million.

Beyond meeting local healthcare needs, the partnership positions Citi Pharma for global expansion, paving the way for exports to key markets such as India, China, and others.

The announcement aligns with broader Saudi-Pakistani economic cooperation, highlighted at the Saudi-Pakistani Business Forum held in Islamabad.

The forum saw the signing of multiple cooperation agreements spanning vital sectors like energy, agriculture, food, mining, and IT, as part of efforts to accelerate a $5 billion investment plan and strengthen economic ties.

Saudi Minister Khalid Al-Falih stressed that Saudi Arabia views Pakistan as a key investment destination, with current bilateral trade valued at $5.4 billion.

This partnership marks a significant milestone in the ongoing efforts to boost regional pharmaceutical capabilities and strengthening economic relations between Pakistan and Saudi Arabia.