Beximco Pharma acquires 54.6% stake in Sanofi Bangladesh

Beximco Pharmaceuticals has finalised agreements to acquire 54.6 per cent of stake in Sanofi Bangladesh for over Tk 400 crore. The acquisition is set on expanding Beximco’s capabilities and product base offerings into new specialty therapy areas. This will also mark the French pharmaceutical giant’s exit from Bangladesh, ending operations spanning for more than six decades. Earlier, Bangladesh Bank approved the Bangladeshi drug maker’s acquisition of the Sanofi shares from Fisons and May & Baker, two of its shareholders based in the UK. The remaining shares are owned by Bangladesh Chemical Industries Corporation and the Ministry of Industries, 20 per cent and 25.4 per cent respectively. Sanofi Bangladesh generated Tk 303 crore in revenue, Tk 27 crore in profit before tax and had Tk 640 crore in gross assets in the year ending on December 31, 2020, according to its last audited accounts. A part of Sanofi SA, a global biopharmaceutical company focused on human health, the Bangladesh operations were established in 1958 as a part of the British chemical company, May & Baker.