Beximco Pharma to Acquire Eight ANDAs from Sandoz Inc.
-- February 20, 2019
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.