REG - Beximco Pharmaceut - Sanofi Bangladesh Ltd. renamed Synovia Pharma PLC

Beximco PharmaceuticalsAnnouncement

01/04/2022 07:00

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RNS Number : 8585G  Beximco Pharmaceuticals Ltd  01 April 2022

 

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
(http://www.synoviapharma.com) or enquire to:

 

Beximco Pharma

Nazmul Hassan MP, Managing Director

Tel: +880 2 58611001, ext. 20080

S M Rabbur Reza, Chief Operating Officer

Tel: +880 2 58611001, ext. 20111

Mohammad Ali Nawaz, Chief Financial Officer

Tel: +880 2 58611001, ext. 20030

SPARK Advisory Partners Limited (Nominated Adviser)

Mark Brady / Andrew Emmott

Tel: +44 (0) 20 3368 3551 / 3555

SP Angel Corporate Finance LLP (Broker)

Vadim Alexandre / Abigail Wayne

Tel: +44 (0) 20 3470 0470

FTI Consulting

Simon Conway / Victoria Foster Mitchell

Tel: +44 (0) 20 3727 1000

Notes to Editors

About Beximco Pharmaceuticals Limited

Beximco 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.

 

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