Searle Company, a pharmaceutical company, announced allotting unsubscribed shares to 35 shareholders. According to Searle Company, it has allotted 30,000 unsubscribed right shares to renowned scientist Dr Atta-ur-Rehman, a shareholder in the company.
Searle Pharma assigned 1.93 million unsubscribed right shares to 35 shareholders. According to Searle Company’s notice sent to Pakistan Stock Exchange, Adil Allahwala was allotted 300,000 unsubscribed right shares, Mrs Mahboob Khan was allotted 590,000 shares and Nadeem Allahwala was allotted 200,000 shares. EFU General has been allotted 21,288 unsubscribed right shares while EFU Life was allotted 16,122 right shares.
Searle Company Limited had announced in May that it has entered in an exclusive licensing and marketing agreement with Bangladesh’s Beximco Pharmaceuticals, the first company in the world to introduce the generic variant of the drug. This drug is being developed for COVID-19 treatment by Gilead Science.
