Clarification: GSK Pakistan, Stiefel Labs merger

KARACHI: Reference to a story published in this newspaper on June 14, 2011 about the merger of Stiefel Laboratories Limited with GlaxoSmithKline Pakistan (Private) Limited, the merger has already been completed in January this year. The honourable Sindh High Court had granted the merger approval on 22nd January, 2011 as per scheme of arrangements submitted by both the companies. The scheme of arrangement for the amalgamation of Stiefel Laboratories Pakistan Private Limited (SLPPL) with GlaxoSmithKline Pakistan (Private) Limited (GSKPPL) was sanctioned by the honourable high court of Sindh on January 22, 2011. The effective date of the merger was July 1, 2010. As such no new merger will take place, effective July 2011, as reported. PRESS RELEASE

Published in The Express Tribune, June 18th, 2011.