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Haleon Pakistan is set to commence manufacturing the multivitamin brand Centrum within the country for both domestic sales and export, according to the company's CEO. This move aims to enhance sales in the country amidst a decline in inflation. The Pakistan division of the British consumer healthcare giant, Haleon, intends to broaden its pain management portfolio next year by introducing the Panadol range, which targets menstrual pain and migraines. This was disclosed by CEO Farhan Muhammad Haroon in an interview with Reuters.
"Pakistan boasts a vitamin and mineral supplement market worth 24 billion rupees ($86.30 million), excluding the grey market. Our share in this market stands at 7.5 billion rupees ($26.97 million) through our vitamin products, CAC-1000 Plus and Qalsium-D," Haroon stated. "With the introduction of Centrum, we aim to immediately capture 7% to 8% of the remaining market, which is a significant portion of the category."
Haroon noted that the company plans to sell Centrum in smaller packaging to alleviate concerns about high initial costs, as purchasing power has diminished following last year's inflation surge to a multidecade high of approximately 40%. In November, Pakistan's consumer price index inflation decelerated to 4.9%. Haroon revealed that the initial phase of the Centrum launch, slated for the first quarter of 2025, will involve importing the product. The subsequent phase will see local production with market-specific variants tailored to Pakistani and other export markets' needs.
"We currently export our calcium and vitamin D supplement, CAC-1000 Plus, and topical pain relief product, Voltral Emulgel, to Vietnam and the Philippines. We are poised to expand our export reach to 19 countries within the next 1-1.5 years," he said. Haleon Pakistan anticipates that exports will account for at least 10% of its sales in the next two years, up from the 5% to 6% peak in 2022. Haroon added that the company invested $10 million last year to augment local production capabilities.
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