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Beximco Pharmaceuticals Limited announced on 1 October 2021 the completion of its acquisition of a majority stake in Sanofi Bangladesh Limited. The final cash consideration for the acquisition was approximately £39.35 million.
| Date | 1 Oct 2021 |
| Time | 07:00:06 |
| Category | Acquisitions and alliances |
| ID | 6147N |
1 October 2021
BEXIMCO PHARMACEUTICALS LTD.
Completion of acquisition of a majority stake in Sanofi Bangladesh Limited
Deal in line with strategy to expand core capabilities and product offering
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, is pleased to announce that, further to the announcement on 14 September 2021, the Company has now completed its acquisition of the majority stake in Sanofi Bangladesh Limited ("Sanofi Bangladesh") (the "Acquisition"), first announced on 21 January 2021.
The final consideration, payable in cash (post the closing adjustments previously outlined), was approximately £39.35 million.
Beximco Pharma Managing Director, Mr Nazmul Hassan MP, commented:
"The completion of this deal - the second acquisition in Beximco Pharma's history - is a significant moment. We have a clear strategy to continue our diversification and expansion while strengthening our position as a market-leading pharma company in Bangladesh. The acquisition of a majority stake in Sanofi Bangladesh is precisely in line with this strategy, strengthening our position in key therapeutic areas to drive sustainable revenue and profit growth. We look forward to welcoming over 800 skilled and diligent Sanofi Bangladesh employees to our existing workforce. As an enlarged group, we are excited to continue our growth trajectory by delivering affordable treatments and breakthrough therapies in our growing domestic market."
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.