Listed pharmaceutical company Square Pharmaceuticals PLC has signed a contract manufacturing agreement with CTC Pharma Limited to expand production capacity and meet the growing demand for medicines in the domestic market.

The agreement was approved at a meeting of Square Pharmaceuticals’ board of directors held on Sunday, according to company sources.

The company said the partnership aims to address increasing demand for its products while enhancing its capacity to manufacture new medicines through contract production.

This is not Square Pharmaceuticals’ first contract manufacturing initiative. The company has previously entered into similar agreements with other pharmaceutical manufacturers to strengthen production capacity and ensure an adequate supply of medicines amid rising market demand.