1st Oct 2021 12:19
Beximco Pharmaceuticals Ltd - Bangladesh-based pharmaceutical company - Completes GBP39.4 million cash buy of majority stake in French pharmaceutical firm Sanofi SA's Bangladeshi unit. The deal sees Beximco purchase just shy of a 55% stake in Sanofi Bangladesh.
"The completion of this deal - the second acquisition in Beximco Pharma's history - is a significant moment," comments Managing Director Nazmul Hassan.
"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."
Sanofi Bangladesh generated revenue of around GBP33.6 million and pretax profit of GBP4.3 million in 2019.
Beximco current stock price: 94.00 pence
Year-to-date change: down 6.0%
Sanofi current stock price: USD48.21
Year-to-date change: down 0.8%
By Will Paige; [email protected]
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