Beximco Pharmaceuticals to Buy Sanofi's Majority Stake in Bangladesh Unit
By Jaime Llinares Taboada
Beximco Pharmaceuticals Ltd. said Thursday that it has entered
into an agreement with Sanofi S.A. to buy a majority stake in
Sanofi Bangladesh Ltd.
The AIM-listed pharmaceutical company said it will pay an
adjustable consideration of 35.5 million pounds ($48.5 million) for
Sanofi's 54.6% stake in the Bangladeshi company. The remaining
stake is held by the government of Bangladesh.
Sanofi Bangladesh has over 800 employees and produces
approximately 100 branded generic products, in addition to
importing and supplying vaccines, insulins and chemotherapy drugs.
The group made a pretax profit of around GBP4.3 million in
Beximco said the acquisition would help it to consolidate its
leading position in Bangladesh. The deal is expected to complete
within three to nine months.
Shares in Beximco at 0949 GMT were down 0.1% at 195.3 pence.
Sanofi was flat at EUR82.35.
Write to Jaime Llinares Taboada at email@example.com;
(END) Dow Jones Newswires
January 21, 2021 05:09 ET (10:09 GMT)
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