Last checked at 1 Apr 2022 07:00
1 April, 2022
BEXIMCO PHARMACEUTICALS LTD.
Sanofi Bangladesh Limited is renamed Synovia Pharma PLC
Beximco Pharmaceuticals Limited ("Beximco Pharma", "BPL" or "the Company"), the fast-growing manufacturer of generic pharmaceutical products and active pharmaceutical ingredients, announces that it has changed the name of the recently acquired subsidiary, Sanofi Bangladesh Limited, to Synovia Pharma PLC, effective from 1 April, 2022.
Sanofi Bangladesh Limited was part of the global biopharmaceutical company Sanofi S.A. before the acquisition of a majority stake in the company (54.6%) by Beximco Pharma on 1 October 2021. The change of name has been made in compliance with the terms of the Share Purchase Agreement between the Company and the Sellers.
The name "Synovia" is derived from the French word Synergie, meaning "collaboration" and the Latin word Via, meaning "path". Synovia Pharma will continue to manufacture, market and import Sanofi S.A. products, ensuring continued supply for patients in Bangladesh across therapeutic areas such as cardiology, diabetes, oncology, dermatology and CNS. These treatments, as well as opportunities to introduce Sanofi's future global brands, will drive future growth of Beximco Pharma by expanding its addressable market and reinforcing the Company's commitment to ensure access to breakthrough therapies and affordable medicines.
Managing Director of Beximco Pharma, Nazmul Hassan MP, commented:
"Following the acquisition of a majority stake in Sanofi Bangladesh, we have been focused on integrating its people and products. By renaming the business Synovia Pharma, we mark the next exciting step in this transition. Under this new name, we are committed to maintaining Synovia Pharma's established reputation for high-quality products and to delivering affordable treatments and breakthrough therapies to the growing market in Bangladesh. We are also excited to maximize the potential of Beximco Pharma's strengthened position in key therapeutic areas to drive long-term growth."
For more information on Synovia Pharma please visit www.synoviapharma.com or enquire to:
Beximco PharmaNazmul Hassan MP, Managing DirectorTel: +880 2 58611001, ext. 20080S M Rabbur Reza, Chief Operating OfficerTel: +880 2 58611001, ext. 20111Mohammad Ali Nawaz, Chief Financial OfficerTel: +880 2 58611001, ext. 20030SPARK Advisory Partners Limited (Nominated Adviser)Mark Brady / Andrew EmmottTel: +44 (0) 20 3368 3551 / 3555SP Angel Corporate Finance LLP (Broker)Vadim Alexandre / Abigail WayneTel: +44 (0) 20 3470 0470FTI ConsultingSimon Conway / Victoria Foster MitchellTel: +44 (0) 20 3727 1000Notes to EditorsAbout Beximco Pharmaceuticals LimitedBeximco Pharma is a leading manufacturer and exporter of medicines based in Bangladesh. Since its inception in 1976, the Company remains committed to health and wellbeing of people across all the continents by providing access to contemporary medicines. Company's broad portfolio of generics encompasses diverse delivery systems such as tablets, capsules, liquids, semi-solids, intravenous fluids, metered dose inhalers, dry powder inhalers, sterile ophthalmic drops, insulins, prefilled syringes, injectables, nebuliser solutions, oral soluble films etc. The Company also undertakes contract manufacturing for multinational and leading global generic pharmaceutical companies.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 and it has a geographic footprint in more than 50 countries. More than 5,500 employees are driving the company towards achieving its aspiration to be among the most admired companies in the world.