Lucky Core seals deal for Pfizer’s Karachi plant, pharma products

Asset Purchase Agreements signed, acquisition includes products such as Ansaid, Ponstan, Ponstan Forte, Basoquin, Deltacortril, Lysovit, Corex-D, and Mycitracin. 

Lucky Core Industries Limited (LCI) has announced its acquisition of Pfizer Pakistan Limited’s manufacturing facility and a range of pharmaceutical products. 

According to a notice sent to the Pakistan Stock Exchange (PSX) on Friday. the deal, formalised through Asset Purchase Agreements signed on May 17, 2024, includes the purchase of Pfizer’s manufacturing site located at B2 SITE, Karachi.

The acquisition encompasses several well-known pharmaceutical products and their respective registrations: Ansaid, Ponstan, Ponstan Forte, Basoquin, Deltacortril, Lysovit, Corex-D, and Mycitracin, read the notice. 

Additionally, LCI has secured the associated trademarks for these products, either through outright assignment or a perpetual license from Pfizer group entities.

The Asset Purchase Agreements outline the terms and conditions of the acquisition, with the transaction’s completion contingent upon meeting stipulated conditions and obtaining requisite approvals.

The Asset Purchase Agreements record the terms and conditions for the acquisition of the assets. 

The completion of the transaction contemplated in the Asset Purchase Agreements will remain subject to the satisfaction of conditions stipulated in the said agreements and receipt of requisite approvals, the notice added.

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