ISLAMABAD: The Competition Commission Pakistan (CCP) has approved the acquisition of Standpharm Pakistan (Pvt) Ltd by Crest Garments International (Pvt) Ltd, terming it an internal corporate restructuring within a commonly owned group of companies.
According to details, both entities operate under the same group of individual shareholders and management, and the transaction is not expected to alter market dynamics or competition in any sector.
Standpharm Pakistan is an established player in the pharmaceutical and nutraceutical industries, with a product portfolio spanning 19 therapeutic categories, including anti-rheumatics, analgesics, vitamins, gastrointestinal medicines, antibiotics, and psycholeptics. Crest Garments, meanwhile, is primarily engaged in apparel manufacturing and has no prior presence in the healthcare or pharmaceutical domain.
Following a comprehensive review, the CCP determined that the proposed transaction does not lead to any horizontal, vertical, or conglomerate overlaps between the merging entities. The watchdog observed that Pakistan’s pharmaceutical and nutraceutical markets remain broadly competitive, with moderate market concentration and a steady influx of new entrants.
In its findings, the Commission emphasized that since the move constitutes an intra-group restructuring, it does not involve any change in ultimate ownership or control. Consequently, the CCP concluded that the transaction would neither lessen competition nor create a dominant position in any relevant market.
The decision underlines CCP’s ongoing oversight of mergers and acquisitions to ensure that market consolidation, even within group structures, does not restrict fair competition or consumer choice.
