The Competition Commission of Pakistan (CCP) has authorised Citi Pharma Limited (CPHL) to acquire 100% of Pakheim International Pharma (Private) Limited, the company said in a filing to the Pakistan Stock Exchange on Monday.
The CCP issued its order on October 9, 2026, in Case No. 1614/Merger-CCP/2026. It granted the approval under Section 31(1)(d)(i) of the Competition Act, 2010, after finding that the transaction does not raise competition concerns.
CPHL said the acquisition will proceed under the Share Purchase Agreement dated May 6, 2026, once the applicable legal, regulatory and other formalities are completed.
The company announced the deal in May as part of its growth strategy. It said the acquisition would help it use operational synergies, improve production efficiency and expand its presence in local and international markets.
At that time, CPHL said Pakheim generates annual revenue of about Rs500 million. The company plans to raise this to Rs5 billion over the next five years through portfolio expansion, better distribution and investment in manufacturing.
The transaction carries a flexible payment plan that runs until December 31, 2026, and will be funded through operational cash flows.
CPHL also expects the deal to strengthen its active pharmaceutical ingredient (API) business. Pakheim will source APIs directly from Citi Pharma, which is expected to increase API sales and improve capacity utilisation.
The acquisition will also give Citi Pharma a new brand identity in the trading segment, helping it expand its customer base and increase trading volumes.