Pakistani healthcare company OBS Group is making progress in its plans to purchase pharmaceutical assets from German firm Bayer AG in Pakistan. The deal reportedly involves OBS acquiring a manufacturing facility in Lahore and 12 pharmaceutical brands for approximately Rs7 billion. OBS has established a new unit, partly owned by its employees, specifically for this acquisition. The transaction is expected to be finalized soon, according to anonymous sources. Last week, Bayer Pakistan denied reports of its exit from Pakistan but mentioned its intention to transfer certain assets to strengthen competitiveness and support long-term growth. As part of this strategic review, Bayer plans to transfer its pharmaceutical and consumer health manufacturing plant in Lahore, as well as select brands, to another international company. Bayer reassured its employees that they would be transferred to the acquiring company with a two-year job guarantee and comparable compensation. The recent Bloomberg report stated that Bayer representatives declined to comment on the buyer’s identity or the transaction’s size, while OBS did not respond to requests for comment.

>Source link>

>>Join our Facebook Group be part of community. <<

By hassani

Leave a Reply

Your email address will not be published. Required fields are marked *