October 16, 2025 (MLN): Citi Pharma Limited ( PSX:CPHL) has issued a formal clarification denying reports circulating on social media about its alleged plans to establish a new pharmaceutical manufacturing facility in Iraq.

The rumors stemmed from discussions held during its participation in the Iraq Expo, which were exploratory in nature. According to the statement, no formal decisions, agreements, or commitments have been made regarding any operations in the Iraqi market as of now, according to the company's statement issued today.

“The social media posts suggesting otherwise were inadvertently shared by different media platforms,” the company explained. It added that formal requests have been made to remove the inaccurate posts to prevent further misinformation.

Citi Pharma expressed regret over the delay in issuing this clarification, noting that it became aware of the misleading posts only recently.

The company reaffirmed its commitment to transparency and to ensuring that accurate information is disseminated to its shareholders and the general public in accordance with applicable regulations.