Beximco to acquire majority stake in Sanofi Bangladesh

Beximco Pharmaceuticals Limited (Beximco Pharma ) issued a press statement today announcing it has signed agreement to acquire a majority share (54.6%) in Sanofi Bangladesh Limited, a concern of French pharmaceutical giant Sanofi.

It is anticipated that the acquisition would be completed within the next 3 to 9 months.

Sanofi Group currently holds 54.6% shares in the paid-up capital of Sanofi Bangladesh. The remaining shares are held by the government of Bangladesh represented by the Ministry of Industries (approx. 25.36%) and Bangladesh Chemical Industries Corporations (approx.19.96%).

It is anticipated that the acquisition would be completed within the next 3 to 9 months.

The French company has been conducting its business in Bangladesh since 1958.

But On 14 October of 2019, the country chair and managing director of Sanofi Bangladesh declared to handover 55% ownership of the company to a third party by March, 2021.

Currently Sanofi Bangladesh has over 800 employees and produces approximately 100 branded generic products mainly for the local market.

(Source: BSS)