KARACHI: A leading pharmaceuticals company of Pakistan, the Searle Company Ltd, has announced that it is acquiring OBS Pakistan Ltd, a statement said on Tuesday.
Searle had been a US-based multinational company, as it was acquired by IBL Group in 1993 and listed at the Pakistan Stock Exchange.
The latest acquisition will strengthen the Searle's portfolio, enabling the company to bring research molecules in the Pakistani pharmaceutical market. Searle is well known in the country for high quality and economical pharmaceutical products.
OBS Pakistan Ltd, is a strategic pharmaceutical organisation comprising global multinational pharmaceutical companies such as Organon, Merck & Co Inc USA, Schering Plough, Santen Japan and Vifor Switzerland.
Its international brands are well established in Pakistan, as they are widely prescribed by the medical doctors across the country. This acquisition will change the Searle's ranking and provide it with more market penetration.