Last checked at 3 Apr 2018 07:00
3 April 2018
BEXIMCO PHARMACEUTICALS LTD.
Completion of the acquisition of Nuvista Pharma Limited
Beximco Pharmaceuticals Limited ("BPL", "Beximco Pharma" or "Company"; AIM Symbol: BXP LEI No. 213800IMBBD6TIOQGB56), the fast-growing manufacturer of generic pharmaceutical products and active pharmaceutical ingredients, today announces that, further to the announcements made on 6 October 2017 and 19 January 2018, the Company has completed the acquisition of a majority stake in Nuvista Pharma Limited (Nuvista). A total of 10,013,474 Ordinary Shares have been acquired from seven individual shareholders having an aggregate holding of 85.22% of the Paid up Capital of Nuvista.
Immediately after the acquisition, the Board of Nuvista was reconstituted. The new five member board consists of four nominees from Beximco Pharma and one nominee representing the government shareholding in Nuvista.
For further information please visit www.beximcopharma.com or enquire to:Beximco PharmaNazmul Hassan MP, Managing Director Tel: +880 2 58611001, ext.20080
SPARK Advisory Partners Limited (Nominated Adviser)Mark Brady / Andrew EmmottTel: +44 (0)20 3368 3551 / 3555
Northland Capital Partners Limited (Broker)
Tom Price
Tel: +44 (0)20 3861 6625
FTI ConsultingSimon Conway / Victoria Foster Mitchell Tel: +44 (0)20 3727 1000
Notes to Editors:
About Beximco Pharmaceuticals Limited
Founded in 1976 and based in Dhaka, Bangladesh, Beximco Pharma manufactures and sells generic pharmaceutical formulation products and active pharmaceutical ingredients. The Company also undertakes contract manufacturing for multinational and leading global generic pharmaceutical companies. The Company operates from a 23 acre site in Dhaka and has manufacturing facilities for producing various drugs in different delivery systems such as tablets, capsules, liquids, semi-solids, intravenous fluids, metered dose inhalers, dry powder inhalers, sterile ophthalmic drops, prefilled syringes, injectables, nebuliser solutions, oral soluble films etc. Ensuring access to quality medicines is the powerful aspiration that motivates 3,800 employees of the Company.
Beximco Pharma′s state-of-the-art manufacturing facilities are certified by global regulatory authorities of USA, Europe, Australia, Canada, GCC and Latin America, among others. The Company's products are sold to retail outlets, medical institutions and other pharmaceutical manufacturers in Bangladesh, in regional markets such as Sri Lanka, Nepal, Bhutan, Vietnam, Cambodia and Myanmar and in other markets overseas, principally in South East Asia, including Singapore, Thailand, Taiwan, Malaysia, Indonesia, Philippines and Hong Kong; Africa, including South Africa, Mauritius, Kenya, Ghana, Ethiopia, Uganda and Nigeria; Central Asia, including Azerbaijan; Middle East, including Kuwait and Jordan; Pacific Island countries; Latin and Central American countries; Europe, including Austria, Germany and Romania; Australia and North America, including the USA and Canada.