Radiant Pharmaceuticals Limited (RPL), a leading healthcare solutions provider in Bangladesh, is set to acquire a majority stake in Novartis Bangladesh Limited (NBL), currently a joint venture between Novartis AG and Bangladesh Chemical Industries Corporation (BCIC).
Novartis AG, the Swiss multinational pharmaceutical company, owns 60% of NBL shares, while the state-owned BCIC holds the remaining 40%. RPL will take over Novartis AG’s stake, though the financial details of the transaction have not been disclosed. The acquisition is contingent upon completing regulatory approvals and other formalities, as stated by NBL.
The deal was formalized at a signing ceremony attended by Kevin Zou, Head of Asia Aspiring Markets at Novartis, and Lt Gen (Retd) Sina Ibn Jamali, Managing Director of RPL.
Novartis AG has expressed confidence in Radiant’s ability to sustain NBL’s operations and ensure product availability for patients under the current legal framework.
RPL Chairman Md Nasser Shahrear Zahedee highlighted the strategic importance of the acquisition, emphasizing its potential to enhance Radiant’s product portfolio, manufacturing capabilities, and export opportunities. “We will manufacture original medicines and can export without patent,” he said.
NBL, employing about 500 people, has an annual turnover of approximately Tk 4 billion. The acquisition is expected to strengthen Radiant’s position in Bangladesh’s pharmaceutical sector and contribute to capacity building within the industry.
