Citi Pharma Limited is seeking shareholder approval to expand its business into cannabis, industrial hemp, and medicinal cannabis activities in Pakistan and abroad.
The company has proposed adding a new clause to its Memorandum of Association covering a broad range of cannabis-related businesses, subject to regulatory approvals, according to a notification submitted to the Pakistan Stock Exchange (PSX).
The proposed expansion covers the cultivation, breeding, research, harvesting and production of industrial hemp, medicinal cannabis and marijuana.
It also includes the processing and extraction of cannabis derivatives, including cannabidiol, tetrahydrocannabinol, oils, resins, isolates and other compounds.
Citi Pharma also plans to seek permission for manufacturing pharmaceutical, nutraceutical, cosmeceutical, dietary supplement, herbal, veterinary, food, beverage and industrial products containing or derived from cannabis and hemp. The proposed business scope includes research and development, laboratory testing, quality control, storage, logistics, import, export, distribution and marketing.
The company’s proposed activities would also include medical and healthcare facilities, rehabilitation centers and related education and training services involving cannabis-based therapies or products. The proposal further covers the import of seeds, genetics, plant material, machinery and other inputs, along with the export of finished products and byproducts.
Citi Pharma has called an Extraordinary General Meeting for September 18, 2026, at its head office in Lahore, where shareholders will vote on the proposed alteration to the Memorandum of Association. The proposed amendment will require confirmation from the Securities and Exchange Commission of Pakistan and any other approvals required under applicable law.
Any cannabis-related activities would have to comply with applicable laws and receive the required licenses, registrations and permissions from the Cannabis Control and Regulatory Authority, the Drug Regulatory Authority of Pakistan and other relevant authorities.
