The Board of Directors (BoD) of Hoechst Pakistan Limited, formerly known as Sanofi-Aventis Pakistan Limited, has accorded its approval to finalise the commercial and legal terms for the acquisition of certain products and associated trademarks from Sanofi affiliates.
According to a notice sent to the Pakistan Stock Exchange (PSX), this decision was made during a board meeting held on June 11, 2024.
“The Board of Directors of Hoechst Pakistan Limited, in its meeting held on June 11, 2024, has accorded its approval to finalise the commercial and legal terms for the acquisition of certain products along with associated trademarks from Sanofi affiliates under transfer and assignment agreement(s) (Proposed Transaction),” read the notice.
The proposed transaction will be executed subject to applicable regulatory approvals, execution of transaction documents and completion of legal formalities.
At present, these products are being marketed and manufactured by the Company under licensing arrangements with Sanofi.
The Board of Directors believes that the proposed transaction will be beneficial for the shareholders of the Company in the long run.
