Pryce exits pharma, focuses on gas business

October 2, 2026 | 12:00am

MANILA, Philippines — Pryce Corp. is exiting the pharmaceutical business to sharpen its focus on core operations, including the importation and distribution of liquefied petroleum gas (LPG).

In a regulatory filing yesterday, the company said it agreed to formally remove Pryce Pharmaceuticals Inc. (PPhI) to streamline its business operations.

The move follows Pryce’s board of directors’ approval to assign and transfer P7.5 million worth of common shares in PPhI to PGI Retirement Fund Inc. (PRFI).

Three Pryce directors also serve as members of PRFI’s board of trustees.

The transaction will allow Pryce to concentrate on its LPG and industrial gas businesses under the PryceGas brand while retaining its real estate and memorial park operations under Pryce Gardens.

“Minimal changes to the (company’s) financial condition will be expected after the transaction,” Pryce said.

From January to June, the pharmaceutical products segment generated P24 million in sales, accounting for less than one percent of Pryce’s consolidated revenues.

The LPG business remained the company’s main revenue driver, contributing P10.65 billion or 90.8 percent of the topline.

Industrial gas products followed with P690 million, or 5.9 percent, while real estate and memorial park operations contributed P210 million, or 1.8 percent.

Despite market volatility stemming from the Middle East conflict, Pryce ended the first half with revenues of P11.72 billion, up 3.57 percent from P11.31 billion a year earlier.

Meanwhile, net income remained steady at P1.93 billion.

The company is currently advancing several growth initiatives, including its Davao air separation plant, targeted for completion early next year.

The facility, which could separate atmospheric air to produce liquid oxygen, nitrogen and argon, is expected to strengthen Pryce’s position in the domestic industrial gas market.