Acquisition of a majority stake in Nuvista Pharma confirmed

19 January 2018

Bangladesh's largest drugmaker Beximco Pharmaceuticals (AIM: BXP) says it has now confirmed its previously-announced acquisition of Nuvista Pharma, a leading pharma company in Bangladesh specializing in hormones and steroid drugs.

Beximco has entered into share purchase agreements (SPAs) with six shareholders with an aggregate shareholding of 85.22% in Nuvista.

The total consideration for the acquisition has been agreed at a maximum of 2,100,000,000 taka (around $25.3 million), which is subject to adjustment and fulfilment of conditions precedent by each individual Vendor. The final consideration will be paid in cash on completion of the acquisition, which is expected to occur on or before February 28, 2018.

This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Try before you buy

Free

7 day trial access

Take a Free Trial

All the news that moves the needle in pharma and biotech
Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
Receive The Pharma Letter daily news bulletin, free forever.

Become a subscriber

£820

Or £77 per month

Subscribe Now

Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
Daily roundup of key events in pharma and biotech.
Monthly in-depth briefings on Boardroom appointments and M&A news.
Choose from a cost-effective annual package or a flexible monthly subscription

The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK