Lucky Core Industries will acquire certain assets of M/s. Pfizer Pakistan Limited after approval of the Competitive Commission of Pakistan.
This acquisition is facilitated by a set of agreements including the Frame Agreement and Asset Purchase Agreements.
The acquisition encompasses several well-known pharmaceutical products and their respective registrations, manufacturing technology, know-how, and associated trademarks for Ansaid, Ponstan, Ponstan Forte, Basoquin, Deltacortril, Lysovit, Corex-D, and Mycitracin.
This transaction is classified as a horizontal merger, resulting in a minor increase in the market presence of Lucky Core Industries across the relevant markets.
The CCP’s market assessment identified the relevant product markets as ‘Antirheumatic Systemic, Vitamins, Systemic Corticosteroids, Cough & Cold Preparations, Antiprotozoal & Anthelmintic, and Topical Antibacterial & Antivirals’, with the geographic market being Pakistan.
The CCP has determined that the acquisition will not lead to dominance in any market, thus granting swift approval. This strategic acquisition is poised to enhance the technological advancement in Pakistan’s pharmaceutical sector, fostering innovation and ensuring a competitive market landscape.
