AGP acquires well-established pharmaceutical brands

News Image

MG News | April 07, 2023 at 12:31 PM GMT+05:00

0:00

April 07, 2023 (MLN): AGP Limited (PSX: AGP) has successfully acquired a portfolio of pharmaceutical brands from Viatris Inc. through its Special Purpose Vehicle OBS Pakistan (Private) Limited, the company's filing on PSX showed today. 

The acquired brands, which were previously owned by Pfizer Inc., include a range of anti-depressants, and hypertensive and ophthalmology products.

The largest brand in the portfolio, Norvasc, generated a turnover of Rs1.3 billion in the last 12 months as per the Moving Annual Turnover (MAT) December 2022 industry report issued by IQVIA Solutions Pakistan Pvt. Ltd.

Some of the other well-established brands included in the acquisition are Zolofts, Cardura, Lynca, and Lipitor.

The acquisition is expected to significantly increase AGP's consolidated revenues, which are projected to exceed Rs20 billion over the next 12 months.

AGP has planned to integrate and commence in-house manufacturing of most of these brands, which would result in operational synergies, logistical efficiencies, and maximization of shareholder value.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 138,412.25
167.69M
0.32%
447.43
ALLSHR 85,702.96
423.92M
0.15%
131.52
KSE30 42,254.84
82.09M
0.43%
180.24
KMI30 194,109.59
84.37M
0.15%
281.36
KMIALLSHR 56,713.67
217.03M
0.03%
16.37
BKTi 37,831.34
13.04M
1.62%
603.62
OGTi 27,440.63
3.93M
-0.09%
-23.70
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 118,275.00 118,355.00
117,905.00
655.00
0.56%
BRENT CRUDE 73.47 73.63
71.75
0.96
1.32%
RICHARDS BAY COAL MONTHLY 96.50 0.00
0.00
2.20
2.33%
ROTTERDAM COAL MONTHLY 104.50 104.50
104.50
-0.30
-0.29%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 70.24 70.33
70.18
0.24
0.34%
SUGAR #11 WORLD 16.46 16.58
16.37
-0.13
-0.78%

Chart of the Day


Latest News

Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg