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Citi Pharma Limited (PSX: CPHL) has officially denied rumors suggesting the company is setting up a new pharmaceutical manufacturing facility in Iraq.
In a statement issued on October 16, 2025, the company said that the reports circulating on social media are misleading and not based on any official decision.
The clarification followed widespread online claims that the company was planning an overseas venture after participating in the Iraq Expo. According to Citi Pharma, the discussions held during the event were purely exploratory and did not result in any formal agreements, commitments, or expansion plans.
Citi Pharma Moves to Curb Misinformation
Citi Pharma explained that some media outlets unintentionally shared false posts suggesting that a deal had been finalized. The company said it has now requested those platforms to remove the inaccurate content to prevent further confusion among investors and the public.
The company acknowledged a delay in addressing the matter, noting that it became aware of the misleading posts only recently.
Maintaining Transparency and Investor Confidence
The company reaffirmed its commitment to transparency and emphasized its responsibility to keep shareholders and the public informed in line with Pakistan Stock Exchange (PSX) disclosure regulations.
The clarification comes amid growing public interest in Pakistani pharmaceutical firms expanding into foreign markets, particularly Iraq, where earlier reports from independent media suggested potential collaborations with Iraqi officials. However, Citi Pharma’s statement makes it clear that no such expansion is underway at present.
By issuing this clarification, Citi Pharma aims to rebuild clarity and investor trust, reinforcing its stance on verified, fact-based communication.
