KARACHI: One of Pakistan’s leading pharmaceutical companies, the Searle company Ltd., recently announced that it is acquiring OBS Pakistan Ltd.
A recently issued statement said that Searle had been a US-based multinational company as it was acquired by IBL Group in 1993 and listed in the Pakistan Stock Exchange.
The latest acquisition will strengthen Searle’s portfolio enabling the company to bring research molecules in the Pakistani pharmaceutical market. Searle is well known in the country for high quality and economical pharmaceutical products.
OBS Pakistan Ltd. is a strategic pharmaceutical organization comprising of global multinational pharmaceutical companies like Organon, Merck & Co. Inc. USA, Schering Plough, Santen Japan and Vifor, Switzerland. It is an international brand that is well established in Pakistan as medical doctors across the country widely prescribe them.
This acquisition will change Searle’s ranking and provide it with more market penetration.
It is also worth mentioning here that Searle will soon bring new research molecules of international partners to the Pakistani market, specifically their biotech products. The statement informed that Searle’s latest initiative would be a productive move for its shareholders as well.