Citi Pharma Limited has issued an official clarification denying recent reports circulating across various social media platforms regarding its alleged plans to establish a pharmaceutical manufacturing facility in Iraq. The company stated that the claims, which surfaced after its participation in the Iraq Expo, were based on misinterpretations of preliminary and informal discussions held during the event.
According to the company’s statement, these interactions were exploratory in nature and did not result in any formal agreements, commitments, or operational decisions concerning potential expansion into the Iraqi market. The clarification aims to address the growing speculation and ensure shareholders, investors, and the general public have access to accurate and verified information.
The company emphasized that the social media posts suggesting otherwise were not authorized and were inadvertently shared by different media platforms, contributing to widespread confusion and misleading narratives. It has formally requested these platforms to remove the inaccurate posts to prevent the spread of misinformation that could affect investor sentiment and market perception.
Citi Pharma acknowledged a delay in issuing its clarification, stating that the company only recently became aware of the extent of the misleading content. It reiterated its dedication to timely and transparent communication, assuring stakeholders that any major business developments will always be officially communicated in accordance with regulatory requirements and disclosure protocols of the Pakistan Stock Exchange.
The company also underlined that while it continues to explore strategic opportunities in regional markets, no concrete steps have been taken regarding Iraq at this time. Any future initiatives, if and when approved by the Board of Directors, will be disclosed through official channels and filings.
This clarification comes at a time when social media has become a powerful but often unreliable source of market-moving information. Analysts note that unverified business rumors can trigger unnecessary volatility in the stock market, making timely corporate responses crucial to maintain investor confidence.
Citi Pharma’s swift action to counter the misinformation reflects its focus on corporate governance and responsible communication. The company also reminded stakeholders that credible information regarding its operations and strategic plans should only be trusted when issued directly through official press releases or regulatory disclosures.
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