The Searle Company Limited has approved a proposed investment of up to Rs. 4 billion in its indirect subsidiary as part of a restructuring and expansion plan for its biologics and associated products business.
In a notice sent to the Pakistan Stock Exchange, the company said its Board of Directors approved the proposal during a meeting held on May 11, 2026. The investment will be made in its indirect subsidiary i.e. Nextar Pharma Private Limited, through Searle BioSciences Private Limited, a wholly owned subsidiary of the company.
The company also announced that Nextar Pharma is in the process of changing its name to Searle Biopharma Private Limited. According to the notice, the proposed new name has already been reserved by the Securities and Exchange Commission of Pakistan.
As part of the restructuring plan, Searle’s board approved the transfer of certain biological and associated products, along with related trademarks, product registrations, technical information, and authorizations, to the subsidiary under a proposed arrangement.
The company said the move is aimed at optimizing its product portfolio and improving operational efficiency across the group on a consolidated basis.
The proposed transaction remains subject to shareholder approval under Section 199 of the Companies Act, 2017. The board has authorized management to take necessary steps, including convening an extraordinary general meeting for shareholders to consider the proposal.