KARACHI: Merck, a leading science and technology company, on Saturday announced it has successfully completed the sale of its shareholding in Pakistan to Martin Dow Ltd, creating one of the leading pharmaceutical groups in the country.

As previously announced, the companies would continue to be long-term strategic partners through licence agreements. This will allow the business in Pakistan to continue to have access to Merck’s healthcare and life science portfolios, thereby ensuring continued supply of its products to its patients and customers.

According to a press release, following the acquisition, the business in Pakistan will continue to operate as a separate legal entity, under the same organisational structure.

Martin Dow is committed to continuing and growing the existing business. The Marker family, the founder of the business, will remain a shareholder along with Martin Dow.

Financial terms of the deal were not disclosed.

Published in Dawn, December 11th, 2016