The deal was made in line with the strategy to expand core capabilities and product offering
The country’s leading manufacturer and exporter of medicine Beximco Pharmaceuticals Limited have completed its acquisition of the majority stake (54.6%) in Sanofi Bangladesh Limited.
A brief ceremony was held to mark this historic acquisition on Thursday, September 30, in a hotel in the capital, according to a press release.
The event was attended by Beximco Pharma’s Managing Director Nazmul Hassan MP; BCIC Chairman Shah Md Imdadul Haque; Additional Secretary, Ministry of Industries SM Alam, and senior officials from both the companies.
A 5-member new board of directors has 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 S.A., a global biopharmaceutical company focused on human health.
The operations in Bangladesh were established 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 Sanofi Bangladesh Limited in 2013.
Sanofi Bangladesh’s state-of-the-art manufacturing facilities, including a PIC/S certifiable manufacturing facility for the leading antibiotic, cephalosporin, are spread over 25 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.
The company 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 the Bangladesh pharma industry.
Nazmul Hassan MP commented: "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.”
“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.”
He added: “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."