ISLAMABAD, AUGUST 5: The Competitive Commission of Pakistan’s clearance, Lucky Core Industries will purchase a portion of M/s. Pfizer Pakistan Limited’s assets.
A number of agreements, including the Asset Purchase Agreements and the Frame Agreement, have made this transaction possible. A number of well-known pharmaceutical medicines, together with the corresponding registrations, manufacturing techniques, expertise, and related trademarks for Ansaid, Ponstan, Ponstan Forte, Basoquin, Deltacortril, Lysovit, Corex-D, and Mycitracin, are included in the transaction.
Pakistan’s Lucky Core Industries is a publicly traded business that produces a range of chemicals and medications. Pfizer Pakistan Limited, the seller, is a publicly traded, unlisted business that produces, imports, and sells pharmaceuticals in Pakistan. Its main business, M/s. Based in Delaware, USA, Pfizer Inc. is a biopharmaceutical and biotechnology business that is publicly traded.
According to the CCP’s market assessment, Pakistan is the relevant regional market for the following product categories: “Antirheumatic Systemic, Vitamins, Systemic Corticosteroids, Cough & Cold Preparations, Antiprotozoal & Anthelmintic, and Topical Antibacterial & Antivirals.” This deal, which is categorized as a horizontal merger, has somewhat increased Lucky Core Industries’ market presence in the pertinent areas.
The purchase will not result in market domination, according to the CCP, which is why it was approved quickly. With this calculated purchase, Pakistan’s pharmaceutical industry will benefit from increased technical improvement, which will stimulate innovation and guarantee a competitive market. The CCP’s endorsement highlights its dedication to maintaining fair competition, assisting customers, and promoting expansion and investment in the sector.
