Searle to acquire OBS Pakistan

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KARACHI: A leading Pharmaceuticals company of Pakistan, the Searle Company Ltd., has announced that it is acquiring OBS Pakistan Ltd, says a Press release.
A statement issued here on Tuesday said that the 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 the 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 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 as they are widely prescribed by the medical doctors across the country.
This acquisition will change the Searle’s ranking and provide it with more market penetration.
It is also worth mentioning here that the Searle will soon bring to Pakistani market new research molecules of international partners specifically their bio-tech products. Searle’s new initiative will be a productive move for its shareholders as well, said the statement.