LCI Acquires Pfizer's Pharmaceutical Assets for Expansion

Lucky Core Industries Limited (LCI) has recently made a significant move in the pharmaceutical industry by finalizing asset purchase agreements with Pfizer Pakistan Limited and Pfizer Inc. on May 17, 2024. This deal involves the acquisition of a manufacturing facility in Karachi and a range of popular pharmaceutical brands, including Ansaid, Ponstan, Basoquin, and more.

These acquired brands offer solutions for pain relief, skin infections, and vitamin deficiencies, making them essential products in the market. Asif Jooma, the CEO of LCI, highlighted that this acquisition marks a crucial step in expanding their Pharmaceuticals business. By adding these well-known brands to their portfolio, LCI aims to improve healthcare services, expand manufacturing capabilities, diversify product offerings, and strengthen their market presence.

The transaction is currently awaiting final approvals and the fulfillment of conditions specified in the Asset Purchase Agreements. Once these requirements are met, LCI will proceed with the acquisition, further solidifying its position in the pharmaceutical industry.

Lucky Core Industries Limited's acquisition of Pfizer's pharmaceutical assets represents a strategic move to enhance its presence in the healthcare sector. With a focus on improving healthcare delivery and expanding product offerings, LCI is poised to make a significant impact in the pharmaceutical market.