Portfolio

Our Companies

Pharmaceuticals

Searle Pakistan Limited

The company’s manufacturing journey began in 1976, when Merck Sharp & Dohme (MSD) established its pharmaceutical manufacturing operations in Pakistan.

In 2008, the company was acquired by OBS Group. Continuing its rapid pace of expansion, in June 2009, OBS entered into a strategic alliance with Merck & Co., Inc., USA, acquiring certain MSD brands in Pakistan and Sri Lanka.

Subsequently, a dedicated Hormonal Section was established, making the company one of the earliest local pharmaceutical facilities in Pakistan to introduce and commercialize hormonal soft gelatin capsule technology.

In 2019, the company was acquired by IBL Group and renamed Searle Pakistan Limited, further strengthening its position as a leading pharmaceutical company with a strong presence across Pakistan and other international markets.

In January 2025, Searle Pakistan Limited was acquired by an IJARA Capital-led consortium, marking a new chapter in the company’s growth and transformation journey. Under IJARA’s ownership, the company has embarked on a strategic transformation focused on operational excellence, portfolio expansion, international partnerships and sustainable growth.

The company is among the very few pharmaceutical companies in Pakistan that have specialized in developing strategic business alliances with reputed international firms such as Organon, MSD, CSL Vifor and Santen, providing a full range of high-quality professional services encompassing manufacturing, marketing and sales.

We aim to become the Centre of Excellence for our partners.

Clinical Diagnostics

Sindlab

A pioneer in clinical diagnostics with a legacy spanning over four decades. Since our inception, we've been dedicated to delivering accurate and reliable results to patients across Pakistan.

Sindlab offers a comprehensive array of clinical laboratory services, as well as radiology, ultrasound, consultant clinics and dental services at select diagnostic locations.

Commitment to quality has always been our focus and we monitor our testing through internal controls and participation in proficiency programs. We believe in providing the highest level of service and continuous improvement of our work to meet customer expectations.

Sindlab is ISO 9001:2015 certified for quality management systems.

Pharmaceutical & Nutraceutical

Opal Laboratories

Opal Laboratories (Private) Limited is a trusted name for quality medicines for more than 65 years. It is one of the pioneer pharmaceutical company with a strong presence in Pakistan and exports to Philippines and Afghanistan.

Opal is also one of the very few companies, today in Pakistan, that in addition to its pharmaceutical plant has a dedicated Nutraceutical Facility.

INVESTMENT & ADVISORY TRACK RECORD

SELECTED INVESTMENTS & TRANSACTIONS

Our track record reflects IJARA's experience across healthcare, pharmaceuticals, diagnostics, consumer goods, retail, financial services and real estate. The companies presented below include current and former portfolio investments, as well as transactions in which IJARA has acted in an investment, M&A, advisory or strategic capacity.