Beximco Pharmaceuticals Ltd Beximco Pharma to Acquire Eight ANDAs from Sandoz (4102Q)
February 20 2019 - 2:00AM
UK Regulatory
TIDMBXP
RNS Number : 4102Q
Beximco Pharmaceuticals Ltd
20 February 2019
20 February 2019
BEXIMCO PHARMACEUTICALS LTD.
Beximco Pharma to Acquire Eight ANDAs from Sandoz Inc., US
Acquisition expands Beximco Pharma's US portfolio to 14 approved
ANDAs
Beximco Pharmaceuticals Limited ("Beximco Pharma", "BPL" or "the
Company"; AIM Symbol: BXP, LEI No.: 213800IMBBD6TIOQGB56), the
fast-growing manufacturer of generic pharmaceutical products and
active pharmaceutical ingredients, today announces the signing of a
definitive agreement with Sandoz Inc., a division of Novartis, to
acquire a portfolio of eight Abbreviated New Drug Applications
(ANDAs) in the US for an undisclosed amount in cash.
Beximco Pharma's current US portfolio comprises six US Food and
Drug Administration (FDA) approved products. Four of these products
are currently being exported to the US and two products are
awaiting regulatory approval. Following this transaction, Beximco
Pharma's US portfolio will consist of 14 approved ANDAs.
Nazmul Hassan MP, Managing Director of Beximco Pharmaceuticals,
commented:
"The acquisition of these ANDAs from Sandoz, a global leader in
the generics market, significantly strengthens our position in the
US, expanding our portfolio to 14 approved products. The
acquisition is expected to provide a major boost to our export
sales in the future and we look forward to continuing to build our
presence in this important strategic market for Beximco
Pharma."
In August 2016, Beximco Pharma became the first Bangladeshi
pharmaceutical company to export medicine to the US market
following its manufacturing site approval by the US FDA in June
2015.
Beximco Pharma is a leading exporter of pharmaceuticals in
Bangladesh. The Company currently has a global footprint in more
than 50 countries and has been accredited by the leading global
regulatory authorities including the US FDA, AGES (EU), TGA
(Australia), Health Canada, GCC (Gulf) and TFDA (Taiwan).
The information communicated in this announcement contains
inside information for the purposes of Article 7 of Regulation
596/2014.
For further information please visit www.beximco-pharma.com or
enquire to:
Beximco Pharma
Nazmul Hassan MP, Managing Director
Tel: +880 2 58611001, ext.20080
Md. Asad Ullah, FCS, Executive Director & Company
Secretary
Tel; +880 2 58611891, +880 2 58612040, Ext 10140
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, 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 4,200
employees are driving the company towards achieving its aspiration
to be among the most admired companies in the world.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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