AGL 40.00 Decreased By ▼ -0.16 (-0.4%)
AIRLINK 129.53 Decreased By ▼ -2.20 (-1.67%)
BOP 6.68 Decreased By ▼ -0.01 (-0.15%)
CNERGY 4.63 Increased By ▲ 0.16 (3.58%)
DCL 8.94 Increased By ▲ 0.12 (1.36%)
DFML 41.69 Increased By ▲ 1.08 (2.66%)
DGKC 83.77 Decreased By ▼ -0.31 (-0.37%)
FCCL 32.77 Increased By ▲ 0.43 (1.33%)
FFBL 75.47 Increased By ▲ 6.86 (10%)
FFL 11.47 Increased By ▲ 0.12 (1.06%)
HUBC 110.55 Decreased By ▼ -1.21 (-1.08%)
HUMNL 14.56 Increased By ▲ 0.25 (1.75%)
KEL 5.39 Increased By ▲ 0.17 (3.26%)
KOSM 8.40 Decreased By ▼ -0.58 (-6.46%)
MLCF 39.79 Increased By ▲ 0.36 (0.91%)
NBP 60.29 No Change ▼ 0.00 (0%)
OGDC 199.66 Increased By ▲ 4.72 (2.42%)
PAEL 26.65 Decreased By ▼ -0.04 (-0.15%)
PIBTL 7.66 Increased By ▲ 0.18 (2.41%)
PPL 157.92 Increased By ▲ 2.15 (1.38%)
PRL 26.73 Increased By ▲ 0.05 (0.19%)
PTC 18.46 Increased By ▲ 0.16 (0.87%)
SEARL 82.44 Decreased By ▼ -0.58 (-0.7%)
TELE 8.31 Increased By ▲ 0.08 (0.97%)
TOMCL 34.51 Decreased By ▼ -0.04 (-0.12%)
TPLP 9.06 Increased By ▲ 0.25 (2.84%)
TREET 17.47 Increased By ▲ 0.77 (4.61%)
TRG 61.32 Decreased By ▼ -1.13 (-1.81%)
UNITY 27.43 Decreased By ▼ -0.01 (-0.04%)
WTL 1.38 Increased By ▲ 0.10 (7.81%)
BR100 10,407 Increased By 220 (2.16%)
BR30 31,713 Increased By 377.1 (1.2%)
KSE100 97,328 Increased By 1781.9 (1.86%)
KSE30 30,192 Increased By 614.4 (2.08%)

Citi Pharma Limited (CPHL) has signed a manufacturing contract with Martin Dow Marker Limited to produce ‘WINTIGENO’ cream.

CPHL, a manufacturer of pharmaceuticals and botanical products, shared the development in its notice to the Pakistan Stock Exchange (PSX) on Wednesday.

“We have immense pleasure to announce that CPHL has signed a manufacturing contract with Martin Dow Marker Limited for its renowned product ‘WINTIGENO’ cream. A famous brand which provides immediate relief on muscular and joint pain,” read the notice.

The company shared that the said product has the largest share in the Pakistani market for over 50 years.

“CPHL will produce 10 to 15 million packs annually on its state-of-the-art production facility,” the pharmaceutical said, adding that the development will significantly increase its revenue, enhance profitability and have an incremental effect on its earnings per share as well.

Martin Dow Marker Limited was established in 2016 after Merck Pakistan divested its share to Martin Dow Group. The company has over 2,000 employees with more than 60 brands in the healthcare division.

As per CPHL’s latest financial results, the pharmaceutical posted net sales of Rs2.7 billion in the quarter ending September 30, 2023, a decrease of 13.37%. Meanwhile, the gross margin of CPHL stood at Rs123.9 million, a reduction of 33.46% compared to the corresponding period last year.

CPHL attributed the decline to the overall economic crisis in the country, which includes rising production costs, rupee devaluation, import difficulties, escalating inflation, and soaring fuel prices.

However, it remained optimistic that the stabilization of the exchange rate and the decrease in input costs will lead to an improvement in the situation in the months to come.

Comments

Comments are closed.