who owns agp pharma?

The pharma shared the development in a notice to the Pakistan Stock Exchange (PSX) on Friday.

“We are pleased to inform you that after securing requisite approvals, AGP Limited, through a SPV- OBS Pakistan (Private) Limited, has successfully acquired a portfolio of certain pharmaceutical brands from Viatris Inc. which are commercialized in Pakistan primarily under the brands previously owned by Pfizer Inc.,” read the notice.

Viatris was formed in 2020 when pharma company Mylan merged with Upjohn, Pfizer’s off-patent medicine division.

AGP said that the portfolio it has acquired include a broad range of anti-depressants, anti- hypertensive and opthalmogoly products.

It said all the brands are well established with high brand equity and strong customer loyalty, including Zoloft, Cardura, Lyrica and Lipitor. The largest brand in the portfolio is Norvasc, which it said has recorded a turnover of Rs1.3 billion during the last 12 months as per a report issued by IQVIA Solutions Pakistan.

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The acquisition is expected to result in a significant increase in the consolidated revenues of AGP, which is expected to cross Rs20 billion over the next 12 months.