The agreement was concluded in line with the strategy to expand core capabilities and product offering
The country’s leading drug manufacturer and exporter, Beximco Pharmaceuticals Limited, has completed the acquisition of the majority stake (54.6%) in Sanofi Bangladesh Limited.
A brief ceremony was organized to mark this historic acquisition, Thursday, September 30, in a hotel in the capital, according to a statement.
The event was attended by the Managing Director of Beximco Pharma, Nazmul Hassan MP; BCIC President Shah Md Imdadul Haque; Additional Secretary, SM Alam Ministry of Industries, and senior officials of both companies.
A new 5-member board was formed with MP Nazmul Hassan, Rabbur Reza, Ali Nawaz from Beximco Pharma and the President of BCIC and an official from the Ministry of Industry representing the government.
Sanofi Bangladesh is part of the larger group, Sanofi SA, a global biopharmaceutical company focused on human health.
The Bangladesh operations were established in 1958 as part of the British chemical company May & Baker.
Following a series of mergers, it became Sanofi-Aventis in 2004, before being renamed Sanofi Bangladesh Limited in 2013.
Sanofi Bangladesh’s state-of-the-art manufacturing facilities, including a PIC / S certified manufacturing facility for the main antibiotic, cephalosporin, are spread over 25 acres of land, located near Beximco Pharma’s manufacturing facility in Tongi.
Sanofi Bangladesh produces around 100 branded generic products, primarily for the local market.
The company has a strong presence in the fields of cardiology, diabetes, oncology, dermatology and the CNS.
Sanofi also supplies its global brands of vaccines, insulins and chemotherapy drugs to Bangladesh through direct imports.
This acquisition was the largest and most important acquisition to date in the history of the pharmaceutical industry in Bangladesh.
Nazmul Hassan MP commented: “The finalization of this transaction – the second acquisition in the history of Beximco Pharma – is a major milestone for us. We have a clear strategy to continue our diversification and expansion while strengthening our position as a leading pharmaceutical company in the Bangladesh market. “
“The acquisition of a controlling stake in Sanofi Bangladesh fits precisely with this strategy, strengthening our position in key therapeutic areas to generate sustainable growth in revenues and profits. ”
He added, “We look forward to welcoming more than 800 skilled and diligent Sanofi Bangladesh employees into our current workforce. As a larger group, we are excited to continue our growth trajectory by delivering affordable treatments and breakthrough therapies in our growing home market. “