Wednesday, 18 Oct 2017

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Beximco may buy 85.22p share in Nuvista Pharma

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Health Desk—Oct 08, 2017: Beximco Pharmaceuticals has announced it may buy 85.22 percent share in Nuvista Pharma to strengthen its position in hormones and steroids segments.

Beximco Pharmaceuticals entered into a non-binding memorandum of understanding with the hormones and steroid drugs-maker at a programme in Dhaka on Thursday.

Nazmul Hassan, managing director of Beximco Pharma, and Akhter Matin Chaudhury, chairman of Nuvista Pharma, signed the primary deal.

The proposed acquisition remains subject to due diligence and negotiation and completion of a definitive sale and purchase agreement.

It is expected that the proposed acquisition will be completed by the end of December, said Beximco Pharma in a statement.