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32	32	[[image:Company history .png||alt="History of Beximco" height="537" width="800"]]
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34		-= The Acquisitions of Beximco Pharma =
	34	+== The Acquisitions of Beximco Pharma ==
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36	36	Beximco Pharma had acquired an 85.22 percent stake in Nuvista Pharma in 2018. {{footnote}}https://www.thedailystar.net/business/beximco-acquires-85pc-nuvista-1557673{{/footnote}} Nuvista Pharma is a leading manufacturer of hormonal drugs and steroids in Bangladesh. Nuvista Pharma was a subsidiary of Netherlands-based Organon Holding BV. in 1973 the company was incorporated as Organon (Bangladesh) Limited. Later on, Organon Holding BV divested its shares in Organon (Bangladesh) Limited to the local management, and accordingly, the name of the company was changed to Nuvista Pharma Ltd. The company manufactures different pharmaceutical products such as oral contraceptives, hormones, antihistamines, steroids, and so on. Nuvista generated 171 crore BDT in revenue, 11.8 crore BDT in profit before tax, and 54.8 crore BDT worth net assets in FY 2016-17. The 12.92 percent stake of Nuvista is owned by the Govt. of Bangladesh.
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42	42	The acquisition has cost Beximco Pharma up to  400 crore BDT which is the biggest takeover in the Pharma Industry of the country so far. Regarding the acquisition, Nazmul Hassan MP, managing director of Beximco Pharma, expressed that Beximco Pharma has a proper strategy to continue its diversification and expansion while establishing the company as a leading pharma company in the region. He also added that the acquisition is a part of their growth strategy. {{footnote}}https://www.dhakatribune.com/business/2021/10/02/beximco-pharma-completes-acquisition-of-a-majority-stake-in-sanofi-bangladesh-limited{{/footnote}}
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44	44	= Industry overview =
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46	46	The pharmaceuticals industry in Bangladesh was once dependent heavily on imports and multinational companies. But now the industry is growing very fast to meet 98% of the domestic demand. The remaining 2% are specialized imports like vaccines, hormone drugs, anti-cancer products and so on. The industry is also exporting to different parts of the world and posting a growth rate of 27% per year in export earnings. In 2018, the industry stood at BDT 205 billion in terms of market size with a compound annual growth rate of 15.6% for the last five years. The industry is expected to grow at a rate of 15% per year to reach $5.11 billion by 2023.