Beximco to acquire majority stake of Sanofi Bangladesh

Beximco Pharmaceuticals Limited has entered into a binding commitment with Sanofi group (SNYNF, SNY) regarding the acquisition of a majority stake in Sanofi Bangladesh. 

Beximco Director (marketing) Rizvi Ul Kabir confirmed the matter to The Business Standard today.

The proposed deal is for approximately 54.6% of Sanofi Bangladesh’s total share capital. The remaining shares in Sanofi Bangladesh is owned by the Government of Bangladesh.

Beximco Pharma expects the proposed acquisition to be earnings accretive on completion.

Sanofi Bangladesh has over 800 employees and produces approximately 100 branded generic products mainly for the local market.