Sanofi has announced the successful completion of the Share Purchase Agreement signed with an investor consortium headed by Packages Limited in late 2021. All 52.87% shares held by Sanofi Foreign Participations B.V. in Sanofi-aventis Pakistan Limited have been transferred to the consortium led by Packages Limited and consisting of IGI Investments and affiliates of Arshad Ali Gohar Group, effectively acquiring ownership. In due time, the company will initiate the procedure for a name change.
“This is not an exit from the Pakistan market, but rather a different business model to ensure patients in Pakistan have sustainable access to our medicines and vaccines.” Our top priority was to identify the ideal partner who shares our desire to provide the greatest value to our customers and patients in Pakistan.We are confident that this relationship between patients, the healthcare community, and Sanofi products will continue in the same manner of trust, quality, and dependability, as stated by Sanofi’s Head of Community for Asia and Eurasia, Haissam Chraiteh.
Prior to this share transfer, both Packages Limited and the Arshad Ali Gohar group held significant stakes in the company. “I have a lengthy history with this company, having founded it in 1967 and served as its Chairman of the Board of Directors since its initial public offering in 1977. Together with the existing management team, I look forward to continued close collaboration with Sanofi, both in manufacturing and supply of products to the Pakistani market via a long-term commitment in all aspects of distribution and licencing, said Syed Babar Ali.