Hoechst Pakistan Board Approves Acquisition of Sanofi Products

Hoechst Pakistan Limited, formerly known as Sanofi-Aventis Pakistan Limited, has received approval from its Board of Directors (BoD) to proceed with finalizing the commercial and legal terms for acquiring specific products and associated trademarks from Sanofi affiliates. This decision was made during a board meeting held on June 11, 2024, as confirmed in a notice sent to the Pakistan Stock Exchange (PSX).

The products and trademarks in question, currently marketed and produced by Hoechst Pakistan Limited under licensing agreements with Sanofi, will be acquired pending regulatory approvals, the completion of transaction documents, and fulfillment of legal requirements.

The BoD is confident that this acquisition will bring long-term benefits to the Company's shareholders. The approval granted by the Board marks a significant milestone in the acquisition process, highlighting the strategic importance of this move for Hoechst Pakistan Limited.

The approval for finalizing the acquisition of products and trademarks from Sanofi affiliates by Hoechst Pakistan Limited demonstrates the Company's commitment to strategic growth and enhancing shareholder value. This decision sets the stage for potential future developments that could positively impact the Company's operations and market position.