Beximco Pharmaceuticals on Monday completed the acquisition of Nuvista Pharma, the first of acquisition of a firm by another in Bangladesh’s pharmaceutical sector.

Beximco Pharmaceuticals organised a programme at a hotel in the capital to mark the acquisition. Industries Minister Amir Hossain Amu was present as chief guest.

Beximco Group Vice Chairman Salman F Rahman, Beximco Pharma Managing Director Nazmul Hassan and Nuvista Pharma Chairman and Managing Director Akhter Matin Chaudhury were also present.

Nazmul said Beximco is proud to complete the first acquisition of Bangladesh’s pharmaceutical sector. Beximco now owns 85.22 percent stakes in Nuvista.

Nuvista, formerly Organon (Bangladesh) Ltd, was a subsidiary of the Netherlands-based Organon International. The company has been operating in Bangladesh since 1964 with a local manufacturing facility at Tongi.

MH