AGP Ltd Acquires Several Well-Established Pharmaceutical Brands

AGP Limited (AGP), one of the largest pharmaceutical companies in Pakistan, has acquired a portfolio of certain pharmaceutical brands from Viatris Inc. through a Special Purpose Vehicle – OBS Pakistan (Private) Limited. In a notification to the Pakistan Stock Exchange (PSX), the company said that acquired are commercialized in Pakistan primarily under the brands previously owned by Pfizer Inc. It further said that the brands belong to a variety of products including, a broad range of anti-depressants, anti-hypertensive, and ophthalmology products. The brands are well established with high brand equity and strong customer loyalty, it added. The largest brand in the portfolio NorvascR has recorded a turnover of Rs. 1.3 billion during the last 12 months as per Moving Annual Turnover (MAT) Dec 2022 industry report issued by IQVIA Solutions Pakistan Pvt. Ltd. on Pakistan Pharmaceutical Industry while other well-established brands include Zoloft®, Cardura®, LyricaR, and LipitorR. The company said that the acquisition is expected to result in a significant increase in the consolidated revenues of AGP which is expected to cross Rs. 20 billion over the next 12 months. The company will also integrate and commence in-house manufacturing of the majority of these brands in due course. This would result in economies of scale, operational synergies, and logistical efficiencies and in turn, maximize shareholders’ value, the notice said. AGP began its commercial operations in 1989 as an independent pharmaceutical manufacturing company in Karachi and has grown to become one of the largest pharmaceutical companies in Pakistan, providing a broad range of pharmaceutical products.