Home ›› 02 Oct 2021 ›› Corporate
Beximco Pharmaceuticals Limited has completed its acquisition process of the majority stake - 54.6 per cent - in Sanofi Bangladesh Limited.
The homegrown drug-making giant held a brief ceremony to mark the landmark acquisition at a hotel in the capital on Thursday, said a press release.
Beximco Pharma’s Managing Director Nazmul Hassan MP, Bangladesh Chemical Industries Corporation (BCIC) Chairman Shah Md Imdadul Haque, and senior officials from both the companies attended the meeting.
Expressing his reaction, Nazmul Hassan MP said, “The completion of this deal – the second acquisition in Beximco Pharma’s history – is a major milestone for us. We have a clear strategy to continue our diversification and expansion while strengthening our position as a market-leading pharma company in Bangladesh.”
He further said that the acquisition has been carried out in line with the company’s business strategy.
“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,” added Nazmul Hassan.
A five-member new board of directors has already been formed with Nazmul Hassan MP, Rabbur Reza, Ali Nawaz joining from Beximco Pharma and the BCIC chairman and an official from the Ministry of Industries representing the government.
Sanofi Bangladesh is part of the wider group, Sanofi SA, a global biopharmaceutical company focused on human health.
The company started its operation in Bangladesh in 1958 as part of the British chemical company, May & Baker.
Following a series of mergers, it became known as Sanofi-Aventis in 2004, before being renamed in 2013 as Sanofi Bangladesh Limited.
Sanofi Bangladesh’s state-of-the-art manufacturing facilities, including a PIC/S certifiable manufacturing facility for the leading antibiotic, cephalosporin, are spread over acres of land, located near Beximco Pharma’s manufacturing facility in Tongi.
Sanofi Bangladesh produces approximately 100 branded generic products, predominately for the local market.
It has a strong presence in cardiology, diabetes, oncology, dermatology and CNS. Sanofi also supplies its global brands of vaccines, insulins and chemotherapy drugs to Bangladesh through direct imports.
The acquisition of Sanofi by Beximco Pharma has been the biggest acquisition made so far in the history of Bangladesh’s pharma industry.
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.
It 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.
