Beximco Pharma to form new company to produce herbal medicines
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Beximco Pharmaceuticals PLC, a company listed in the pharmaceuticals and chemicals sector of the stock market, has decided to establish a new subsidiary to manufacture and market herbal medicines. The new company will be named Beximco Pharma Nutraceuticals Limited and will be wholly owned by Beximco Pharmaceuticals.
The information was disclosed on Sunday through the Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE).
The company’s board of directors approved the decision to establish the new subsidiary at a meeting held on November 12. The initiative is part of the company’s strategy to diversify its product portfolio and expand its presence in the healthcare market.
The company said the proposed subsidiary will have an authorized capital of Tk 100 crore, divided into 10 crore ordinary shares with a face value of Tk 10 each. Its initial paid-up capital has been set at Tk 10 crore, which will be fully invested by Beximco Pharmaceuticals.
The new company will primarily focus on manufacturing and marketing herbal medicines. Through this initiative, Beximco Pharmaceuticals plans to expand its product range and strengthen its business presence in the healthcare sector.
However, the new subsidiary will require the necessary legal and regulatory approvals for registration and commencement of operations. It will be able to begin its activities only after obtaining these approvals.
Meanwhile, Beximco Pharma said the initiative to establish the new subsidiary is not expected to have any significant immediate or medium-term impact on the company’s financial operations.
