Beximco acquires Nuvista stake
Beximco Pharmaceuticals has acquired a majority 85.2% stake in fellow Bangladeshi firm Nuvista Pharma for £18.2 million (US$25.2 million). In early October last year, Beximco entered into a non-binding memorandum of understanding with the hormone and steroid drug specialist (Generics bulletin, 13 October 2017, page 3).
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Rising inflation and the depreciation of the Bangladeshi taka have taken their toll on Beximco’s profits even as revenue has continued to rise at the firm.
Beximco has completed its acquisition of a majority stake in Sanofi Bangladesh to “expand its core capabilities and product offerings.” With its second major acquisition under its belt, Beximco said that it plans to continue its diversification and expansion.
Beximco has struck a deal worth nearly $50m to acquire a majority stake in Sanofi Bangladesh, allowing the firm to expand in its domestic market.