Beximco nears completion of acquisition in Bangladesh

London-listed generics and API manufacturer Beximco Pharmaceuticals says it has signed a non-binding memorandum of understanding in which it may take an 85% share in Nuvista Pharma.

Nuvista, which specialises in hormones and steroid drugs, is the former Bangladeshi subsidiary of Dutch firm Organon International.

The deal is subject to due diligence and further negotiation, but Beximco says it expects to be completed this year.