ICI Pakistan to acquire certain assets of Wyeth

KARACHI: ICI Pakistan Limited announced that on Monday the company executed Asset Purchase Agreements with Wyeth Pakistan Limited and Pfizer Pakistan Limited, for the acquisition of certain assets at the aggregate purchase price of Rs1.91 billion.

A statement said the assets being acquired by ICI Pakistan Limited through this transaction included a Wyeth Pakistan Limited-owned pharmaceutical manufacturing facility located on Hawkes Bay Road, SITE, in Karachi. The acquisition includes products and registrations including the following popular and well-established pharmaceutical brands: Entox-P, Lederplex, Lederrif, Mucaine, Nilstat, TriHEMIC and Wymox.

In addition, two products and registrations of Pfizer Pakistan Limited are also included in the acquisition, namely: Citralka and Combantrin, the statement added. It said the transaction is now set to move ahead, subject to requisite regulatory approvals.