KARACHI: The Searle Pakistan Ltd has announced that it is acquiring OBS Pakistan Ltd.

The acquisition will strengthen the Searle’s portfolio enabling the company to bring research molecules in the Pakistani pharmaceutical market, the company said in a statement on Tuesday.

Searle had been a US-based multinational company as it was acquired by IBL Group in 1993 and listed in the Pakistan Stock Exchange.

OBS Pakistan Ltd is a strategic pharmaceutical organisation comprising of global multinational pharmaceutical companies like Organon, Merck & Co Inc USA, Schering Plough, Santen Japan and Vifor Switzerland. Its international brands are well established in Pakistan.

This acquisition will change the Searle’s ranking and provide it with more market penetration.

It will soon bring to Pakistani market new research molecules of international partners specifically their bio-tech products, the release added.

Published in Dawn, May 22nd, 2019