LCI signs agreements for acquisition of certain assets of Pfizer

KARACHI: Lucky Core Industries Limited (LCI) is pleased to announce that on May 17, the company executed Asset Purchase Agreements with Pfizer Pakistan Limited and Pfizer Inc., a leading global pharmaceutical group, for the acquisition of certain assets.

The assets being acquired by LCI through this transaction include a manufacturing facility owned by Pfizer Pakistan Limited located in Karachi, along with a portfolio of well-established pharmaceutical brands, namely Ansaid, Ponstan, Ponstan Forte, Basoquin, Deltacortril, Lysovit, Corex-D and Mycitracin, as well as trademarks associated with the said pharmaceutical products (either through an outright assignment of trademarks or a perpetual license to use the relevant trademarks). These leading brands are primary care products in the therapeutic areas including, pain, skin infections, and vitamin deficiencies, and have strong potential for growth in the market.

Chief Executive LCI, Asif Jooma, commented: “This acquisition marks a significant milestone in our journey towards accelerating growth of our Pharmaceuticals business. By adding these established brands to our portfolio, we will further enrich the lives of those around us by continuing to deliver quality medicines and healthcare products, while expanding our manufacturing base, diversifying our product offerings, and implementing synergies to strengthen our position in the marketplace.”

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