Novartis Pharma (Pakistan) Limited will now be controlled by International Investment II Limited (IIL) after the Competition Commission of Pakistan (CCP) cleared the acquisition under a Phase-I review.
IIL, a Hong Kong-based investment holding company and part of the Getz Group, already operates in Pakistan through Getz Pharma (Private) Limited and Scilife Pharma (Private) Limited. The acquisition transfers control from Novartis AG and Novartis Pharma AG under a Share Purchase Agreement.
Novartis Pakistan is a leading pharmaceutical company engaged in the manufacture, import, marketing, and distribution of medicines across multiple therapeutic classes. During its review, the CCP examined whether the deal could create or strengthen a dominant position or substantially reduce competition, defining relevant markets at the therapeutic class level due to limited substitutability.
Some overlaps were identified in diabetes, anti-rheumatics, anti-epileptics, and cardiovascular agents, but market shares were not significant enough to trigger competition concerns.
Based on its assessment, the CCP concluded the transaction does not create a dominant position and is unlikely to substantially lessen competition, authorizing the deal under Section 31(1)(d)(i) of the Competition Act, 2010.
