Hoechst Pakistan Board Accords Approval to Finalize Terms for Acquisition of Products from Sanofi Affiliates

Hoechst Pakistan Limited (PSX: HPL) is set to finalize acquisition of certain products along with associated trademarks from Sanofi affiliates. In a notice to Pakistan Stock Exchange (PSX), HPL said that its Board of Directors, in its meeting held today, has accorded its approval to finalize the commercial and legal terms for acquisition of certain products along with associated trademarks from Sanofi affiliates under transfer and assignment agreement(s). The proposed transaction will be executed subject to applicable regulatory approvals, execution of transaction documents and completion of legal formalities, the notice added. Hoechst Pakistan is engaged in the manufacturing, selling and trading of pharmaceutical and related products. The company has changed its name from Sanofi-Aventis Pakistan Limited to Hoechst Pakistan Limited.