Pryce Corp. is exiting the pharmaceutical business as part of a move to streamline its portfolio and concentrate on its core operations, particularly liquefied petroleum gas (LPG), industrial gases, and real estate and memorial park businesses.
The listed company said it has transferred its entire 75% stake in Pryce Pharmaceuticals Inc. (PPhI) to PGI Retirement Fund Inc. The transaction covers 7.5 million common shares and is valued at P7.5 million, based on a par value of P1 per share.
Pryce’s board approved the transaction on Sept. 30, after which the company executed a deed of assignment and transfer of shares. The P7.5-million consideration is to be paid in cash within seven calendar days.
Pryce Pharmaceuticals is a domestic company engaged in the wholesale and retail trading of pharmaceutical products. Its business is based at Skyland Plaza along Gil Puyat Avenue in Makati City.
The transaction effectively removes pharmaceuticals from Pryce’s core group of businesses. The company said the move is intended to streamline its operations and allow management to focus resources on businesses that form a larger part of its portfolio.
The company’s main business remains LPG, which it markets under the PryceGas brand. Pryce also operates in industrial gases and maintains real estate and memorial park businesses under its broader portfolio.
Financial data for the first half of 2026 show why the pharmaceutical segment represents only a small portion of the company’s overall business. Pharmaceutical products generated about P24 million in sales from January to June, accounting for less than 1% of Pryce’s consolidated revenues.
By comparison, the LPG business generated P10.65 billion during the same period, representing about 90.8% of total revenue. Industrial gas products contributed approximately P690 million, or 5.9%, while real estate and memorial park operations accounted for around P210 million, or 1.8%.
Pryce reported consolidated revenues of P11.72 billion for the first half of the year, up 3.57% from P11.31 billion during the same period a year earlier. Net income remained broadly steady at about P1.93 billion.
The company has also been pursuing expansion in its industrial gas business. One major project is an air separation plant in Davao that is targeted for completion early next year. The facility is expected to produce liquid oxygen, nitrogen and argon from atmospheric air, supporting demand for industrial and medical gases.
The transfer of the pharmaceutical business involves Pryce and its retirement fund, PGI Retirement Fund Inc. Three Pryce directors also serve as members of the retirement fund’s board of trustees, while the company’s corporate secretary also holds the same position for the fund.
Pryce said it expects minimal changes to its financial condition as a result of the transaction. The company did not disclose any other major conditions attached to the transfer.
The divestment leaves Pryce with a more concentrated business portfolio centered on LPG distribution, industrial gases, and its real estate and memorial park operations. The move reflects the company’s effort to focus on the segments that make up the bulk of its revenue while removing the relatively small pharmaceutical operation from its core structure.
