20th Feb 2019 10:25
LONDON (Alliance News) - Bangladeshi pharmaceutical firm Beximco Pharmaceuticals Ltd said on Wednesday it has agreed to acquire a portfolio of eight Abbreviated New Drug Applications from Sandoz Inc for an undisclosed amount.
Sandoz is a division of Swiss pharmaceutical group Novartis International AG.
Following this transaction, Beximco's US portfolio will consist of 14 Abbreviated New Drug Applications approved by the US Food & Drug Administration.
"The acquisition of these ANDAs from Sandoz, a global leader in the generics market, significantly strengthens our position in the US, expanding our portfolio to 14 approved products. The acquisition is expected to provide a major boost to our export sales in the future and we look forward to continuing to build our presence in this important strategic market for Beximco Pharma," said Managing Director Nazmul Hassan.
Shares in Beximco Pharmaceuticals were up 5.3% at 47.90 pence on Wednesday.