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Beximco Pharmaceuticals Limited confirms that its proposed acquisition of a majority stake in Sanofi Bangladesh Limited has been approved by the Foreign Exchange Investment Department of Bangladesh Bank. This confirmation was announced on 3 September 2021, following a previous announcement regarding the proposed acquisition on 21 January 2021.
| Date | 3 Sept 2021 |
| Time | 13:10:18 |
| Category | Corporate updates |
| ID | 7219K |
3 September 2021
BEXIMCO PHARMACEUTICALS LTD.
Sanofi Bangladesh Acquisition Approved by Foreign Exchange Investment Department of Bangladesh Bank
Beximco Pharmaceuticals Limited ("Beximco Pharma" or "the Company"; AIM Symbol: BXP, LEI No.: 213800IMBBD6TIOQGB56), the fast-growing manufacturer of generic pharmaceutical products and active pharmaceutical ingredients, confirms that, further to the announcement on 21 January 2021, the Company's proposed acquisition of a majority stake in Sanofi Bangladesh Limited ("Sanofi Bangladesh") has been approved by the Foreign Exchange Investment Department of Bangladesh Bank.
As anticipated, the Company and the vendor will now seek to execute the share purchase agreement. Further announcements will be made in due course.
For further information please visit www.beximcopharma.com or enquire to:
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Beximco Pharma |
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Nazmul Hassan MP, Managing Director Tel: +880 2 58611001, ext.20080
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S M Rabbur Reza, Chief Operating Officer Tel: +880 2 58611001, ext. 20111
Mohammad Ali Nawaz, Chief Financial Officer Tel: +880 2 58611001, ext.20030
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SPARK Advisory Partners Limited (Nominated Adviser) Mark Brady / Andrew Emmott Tel: +44 (0)20 3368 3551 / 3555
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SP Angel Corporate Finance LLP (Broker) Vadim Alexandre / Abigail Wayne Tel: +44 (0) 20 3470 0470
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FTI Consulting Simon Conway / Victoria Foster Mitchell / Sam Purewal Tel: +44 (0)20 3727 1000
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About Beximco Pharmaceuticals Limited
Beximco Pharma is a leading manufacturer and exporter of medicines based in Bangladesh. Since its inception in 1976, the Company remains committed to health and wellbeing of people across all the continents by providing access to contemporary medicines. Company's broad portfolio of generics encompasses diverse delivery systems such as tablets, capsules, liquids, semi-solids, intravenous fluids, metered dose inhalers, dry powder inhalers, sterile ophthalmic drops, insulins, prefilled syringes, injectables, nebuliser solutions, oral soluble films etc. The Company also undertakes contract manufacturing for multinational and leading global generic pharmaceutical companies.
Beximco Pharma′s state-of-the-art manufacturing facilities are certified by global regulatory authorities of USA, Europe, Australia, Canada, GCC and Latin America, among others and it has a geographic footprint in more than 50 countries. More than 5,500 employees are driving the company towards achieving its aspiration to be among the most admired companies in the world.