Hoechst Pakistan board approves terms for acquisition of Sanofi products

MG News | June 11, 2024 at 03:31 PM GMT+05:00

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June 11, 2024 (MLN): The Board of Directors of Hoechst Pakistan Limited (PSX: HPL), in its meeting held today, has accorded its approval to finalize the commercial and legal terms for the acquisition of certain products along with associated trademarks from Sanofi affiliates.

The company informed market participants of this development through a notice issued on the Pakistan Stock Exchange (PSX) today.

The Proposed Transaction will be executed subject to applicable regulatory approvals, execution of transaction documents, and completion of legal formalities, the notice mentions.

It is worth noting that the company operates in the pharmaceuticals sector, and its stock is currently trading in the green zone, up by Rs50.98 or 3.52% compared to the previous close.

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