Pakistani pharma aims to acquire Sandoz owned brands to enhance share
- The company informed that the SPV we will acquire the brands through an optimal capital structure comprising equity and debt in the ratio of 30:70.
AGP Limited, one of Pakistan’s pharmaceutical company has decided to acquire products, commercialized in the country under the Sandoz brand.
“The Board of Directors in its meeting held on February 3rd 2021 has authorised AGP Limited to participate with its parent company Aitkenstuart Pakistan (Private) Limited through a Special Purpose Vehicle (SPV) set up by Aitken for the purpose of acquisition of a selected portfolio of products which are commercialized in Pakistan under the Sandoz brand including some widely used brands such as Azomax, Zatofen and Amoxi-Clav which are owned by Sandoz AG a company organised under the laws of Switzerland,” informed the company in a notification.
The company informed that the SPV we will acquire the brands through an optimal capital structure comprising equity and debt in the ratio of 30:70. “The company will own majority of the equity up to 65 percent shareholding in the SPV,” added the company.
AGP Limited expected acquisition of brands, which is subject to certain regulatory approvals and completion of certain closing conditions is likely to increase the company’s “market share, bring operation and logistical synergies and enhance the product portfolio of the company, along with increase in the company's revenues and profitability (consolidated top line is expected to increase by PK 3 billion with 12 months of completion).”
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