ISLAMABAD: The Competition Commission of Pakistan (CCP) has approved Lucky Core Industries’ (LCI) acquisition of specific assets from Pfizer Pakistan Limited.
This deal, facilitated through a series of agreements including the Frame Agreement and Asset Purchase Agreements, involves several prominent pharmaceutical products and their registrations, manufacturing technology, know-how, and associated trademarks. The products include Ansaid, Ponstan, Ponstan Forte, Basoquin, Deltacortril, Lysovit, Corex-D, and Mycitracin.
LCI, a publicly traded company in Pakistan, specializes in the production of chemicals and pharmaceuticals. Pfizer Pakistan Limited, the seller, is a public unlisted company engaged in the manufacturing, importing, and marketing of pharmaceuticals within Pakistan. Its parent company, Pfizer Inc., is a publicly traded biopharmaceutical and biotechnology firm based in Delaware, USA.
The CCP’s market analysis identified the relevant product markets as Antirheumatic Systemic, Vitamins, Systemic Corticosteroids, Cough & Cold Preparations, Antiprotozoal & Anthelmintic, and Topical Antibacterial & Antivirals, with Pakistan as the geographic market.
Classified as a horizontal merger, this transaction is expected to slightly boost LCI’s market presence across the relevant sectors. The CCP concluded that the acquisition would not result in market dominance, leading to prompt approval.
This strategic move is set to advance technological capabilities in Pakistan’s pharmaceutical industry, promoting innovation and maintaining a competitive market environment.
