Country's leading manufacturer and exporter of medicine Beximco Pharmaceuticals Limited has completed its acquisition of the majority stake (54.6%) in Sanofi Bangladesh Limited.
To mark this historic acquisition on Thursday, a function was held at a hotel in the capital. The event was attended by Beximco Pharma managing director Nazmul Hassan, MP, BCIC Chairman Shah Md Imdadul Haque, additional secretary of Ministry of Industries SM Alam, and senior officials from both the companies.
A five-member new board of directors has been formed with Nazmul Hassan, Rabbur Reza and Ali Nawaz from Beximco Pharma, the BCIC chairman and an official from Ministry of Industries representing the government, said a press release today.
Sanofi Bangladesh is part of the wider group, Sanofi S.A., a global biopharmaceutical company focused on human health. Their operations in Bangladesh began 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, is located near Beximco Pharma's manufacturing facility in Tongi.
Sanofi Bangladesh produces approximately 100 branded generic products, predominately for the local market. Sanofi Bangladesh 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.
This acquisition has been the biggest and most important acquisition made so far in the history of Bangladesh pharma industry.
Speaking on the occasion, Beximco Pharma Managing Director Nazmul Hassan 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."
"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," he added.