SEARL Clarifies Reports of Acquiring Majority Stake in Abbott Laboratories

The Searle Company Limited (PSX: SEARL) has firmly denied any interest in acquiring a 51 percent stake in Abbott Laboratories. This clarification was made in a statement to the main bourse on Thursday.

“We categorically deny this claim and wish to clarify that no such discussions, negotiations, or interest have been intimated by the Company in relation to Abbott Laboratories or any acquisition of its stake,” the stock filing stated.

The company emphasized the importance of relying solely on official announcements made through the Pakistan Stock Exchange or other approved communication channels.

In the statement, SEARL also mentioned that if there is any material information requiring disclosure, the company will duly inform the Pakistan Stock Exchange and other relevant authorities in accordance with the applicable laws and regulations.

SEARL is principally engaged in the manufacture of pharmaceuticals and other consumer products. International Brands (Private) Limited is the parent company, holding a 56.32 percent shareholding in SEARL.