AGP acquires well-established pharmaceutical brands

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

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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.

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