Citi Pharma Limited (CPHL) has received regulatory approval for its proposed acquisition of Pakheim International Pharma (Private) Limited.
The company disclosed the development in a filing to the Pakistan Stock Exchange on Monday.
“CPHL hereby informs its shareholders and the general public that the company has received the order dated October 9, 2026, passed by the Competition Commission of Pakistan (CCP) in Case No. 1614/Merger-CCP/2026, authorising the proposed acquisition of 100% shareholding of Pakheim International Pharma (Private) Limited under Section 31(1)(d)(i) of the Competition Act, 2010,” read the notice.
The authorisation follows the CCP’s review of the proposed transaction and its determination that the deal does not raise competition concerns, the notice said.
“The acquisition shall proceed in accordance with the terms of the Share Purchase Agreement dated May 6, 2026, and upon completion of the applicable legal, regulatory and other formalities,” it added.
Citi Pharma had announced in May that it would acquire 100% of Pakheim International Pharmaceuticals as part of its growth strategy.
“Through this acquisition, Citi Pharma aims to leverage operational synergies, optimise production efficiencies, and significantly expand its footprint in both local and international markets,” CPHL had said.
At the time, the company said Pakheim generates annual revenue of about Rs500 million, which it plans to scale to Rs5 billion over the next five years through portfolio expansion, improved distribution and investment in manufacturing.
The transaction has been structured with a flexible payment plan extending until December 31, 2026, to be met through operational cash flows, the company had said.
“Furthermore, this acquisition is expected to strengthen Citi Pharma’s API business, as the acquired operations will source APIs directly from Citi Pharma, contributing to increased API sales and improved capacity utilisation.
“In addition, the acquisition will provide Citi Pharma with a new brand identity within the trading segment, enabling the company to enhance its market presence, expand its customer base, and significantly increase its trading volumes and overall footprint,” the company said at the time.