UDPL to negotiate with IBL over compensation for pharma withdrawal

MG News | October 02, 2023 at 10:12 AM GMT+05:00

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October 02, 2023 (MLN): International Brands Private Limited (IBL) has offered to provide suitable compensation to be discussed and finalized with United Distributors Pakistan Limited (PSX: UDPL), the latest company's filing on the PSX showed today.

This is in reference to the announcement/disclosure on May 15, 2023, wherein IBL approached UDPL and proposed that UDPL should consider refraining from competing with IBL in the business of distribution, marketing, and sale of human pharmaceutical products.

The board has granted authorization to any two directors of the company, to conduct negotiations and formalize the terms of this proposal and prepare necessary documents for the consideration of the Board.

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