Citi Pharma Limited (PSX: CPHL), Pakistan’s largest manufacturer of Active Pharmaceutical Ingredients (API), has achieved a significant milestone by becoming the country’s first nutraceutical product to receive FDA approval in the United States. The company is set to formally launch its products in the US market in September 2024.

According to a stock filing, Citi Pharma has received FDA approvals in several categories, including fertility, weight management, stress and mood boosters, hair and skin care, and joint and muscle pain relief. This approval paves the way for Citi Pharma to enter the highly competitive US market by exporting its finished nutraceutical products.

Citi Pharma offers a wide range of API, formulations, and nutraceutical product lines for both local and global customers. Their offerings include tablets, capsules, powder sachets, syrups, ointments and gels, injections, infusions, and suspensions.

The financial implications of this development are substantial, with the company expecting to generate approximately $3 million annually from this new revenue stream, alongside profit margins of 25-30 percent. “This FDA approval not only boosts Citi Pharma’s credibility but also positions the company as a growing global player, potentially attracting further investment and international partnerships,” the filing stated.

Citi Pharma’s principal activities include the manufacturing and sale of pharmaceuticals, medical chemicals, and botanical products.

At the time of the announcement, Citi Pharma’s stock was trading at Rs. 35.72, up 3.63 percent or Rs. 1.25, with over 2.33 million shares traded on Friday.