Business Desk :
Beximco Pharmaceuticals Limited (Beximco Pharma) has completed the acquisition of a majority shareholding (85.22 percent) in Nuvista Pharma (formerly Organon Bangladesh Limited), said a press release.
The two companies entered into a non-binding Memorandum of Understanding (MoU) for the proposed acquisition on 5th October, 2017 which was mutually agreed and finalized on 18th January, 2018. Government of Bangladesh currently holds 12.92 percent stake in Nuvista.
This is the first acquisition in the history of country’s pharma industry and to mark this occasion a brief ceremony was held at the Radisson Blu Water Garden on Monday in presence of the Industries Minister Amir Hossain Amu MP, high officials from different government bodies, banks, pharma industry, drug regulatory authority and senior officials from Beximco Pharma and Nuvista. Industries Minister praised about the pharma industry’s rapid progress and its important contribution to country’s economic development hoping such initiatives would open up new opportunities of growth for the pharma industry. He mentioned about the government’s various initiatives to support the growth of pharma industry to realize its huge export potential. Salman F Rahman, Vice-Chairman, Beximco Group, Nazmul Hassan Papon, MP, Managing Director of Beximco Pharma and Chairman and Managing Director of Nuvista Pharma Akhter Matin Chaudhury also spoke on this occasion.
Beximco Pharmaceuticals Limited (Beximco Pharma) has completed the acquisition of a majority shareholding (85.22 percent) in Nuvista Pharma (formerly Organon Bangladesh Limited), said a press release.
The two companies entered into a non-binding Memorandum of Understanding (MoU) for the proposed acquisition on 5th October, 2017 which was mutually agreed and finalized on 18th January, 2018. Government of Bangladesh currently holds 12.92 percent stake in Nuvista.
This is the first acquisition in the history of country’s pharma industry and to mark this occasion a brief ceremony was held at the Radisson Blu Water Garden on Monday in presence of the Industries Minister Amir Hossain Amu MP, high officials from different government bodies, banks, pharma industry, drug regulatory authority and senior officials from Beximco Pharma and Nuvista. Industries Minister praised about the pharma industry’s rapid progress and its important contribution to country’s economic development hoping such initiatives would open up new opportunities of growth for the pharma industry. He mentioned about the government’s various initiatives to support the growth of pharma industry to realize its huge export potential. Salman F Rahman, Vice-Chairman, Beximco Group, Nazmul Hassan Papon, MP, Managing Director of Beximco Pharma and Chairman and Managing Director of Nuvista Pharma Akhter Matin Chaudhury also spoke on this occasion.
