F.P. Report
PESHAWAR: The Packages Group is leading a consortium that includes the Arshad Ali Gohar Group to acquire management shares of Sanofi-aventis Pakistan Limited. The group’s association with Sanofi spans over five decades. Syed Babar Ali, the founder of Packages Limited, has been guiding Sanofi-Aventis Pakistan Limited for over half a century since its inception in 1967 as Hoechst Pakistan.
He is the current Chairman of the company and Packages Limited has been a long-time respected local partner.
Over the past couple of years, Sanofi has been evaluating its international footprint. Their long-term strategic roadmap seeks to simplify international operations while retaining a presence and interest locally. The goal is to simplify international organizations and operations in multiple countries, around the world, while ensuring that patients continue to have sustainable access to Sanofi medicines and vaccines.
According to Sanofi’s Head of Corporate Affairs, Laila Khan, “Sanofi is not exiting the Pakistan market. It is simply implementing a different business model that will drive long term growth and secure broad and sustainable access to Sanofi medicines and vaccines for patients in Pakistan.”
The agreement reached between Sanofi and Packages as part of a New Business Model, focuses on the potential of growth of the business and industrial activities in Pakistan. The manufacture, import, promotion, and distribution of Sanofi products will continue unaffected to the Pakistan market. Sanofi will continue to have a stake in the future success of Sanofi products in Pakistan through the supply of raw material for manufacturing as well as managing brand reputations of Sanofi products.
Furthermore, products that are imported from France including insulins, vaccines and other products like Plavix, Clexane, Enterogermina etc, will continue to be available under this agreement.
This deal is a substantial investment for the Packages Group and such entrepreneurial ventures must be encouraged to boost socio-economic conditions of the country. A quick closure of this deal is not only in the best interest of patients but is also likely to generate accelerated industrial and commercial activity, thereby creating much-needed jobs and supporting allied industry.
