Beximco Pharmaceuticals Limited recently announced that it has changed the name of the recently acquired subsidiary, Sanofi Bangladesh Limited, to Synovia Pharma PLC, with effect from April 1, 2022.
Before the acquisition by Beximco Pharma, Sanofi Bangladesh Limited was part of the global biopharmaceutical company Sanofi SA. The change of name has been made in compliance with the terms of the Share Purchase Agreement between the company and the sellers, a press release said on Saturday.
“Under this new name, we are committed to maintaining Synovia Pharma’s established reputation for high-quality products and to delivering affordable treatments and breakthrough therapies to the growing market in Bangladesh,” Beximco Pharma Managing Director Nazmul Hassan said regarding the name change.
“We are also excited to maximise the potential of Beximco Pharma’s strengthened position in key therapeutic areas to drive long-term growth,” he added.
A majority stake in the company (54.6 percent) was acquired by Beximco Pharma on October 1, 2021.
The name “Synovia” was derived from the French word Synergie, meaning “collaboration” and the Latin word Via, meaning “path”.
Synovia Pharma will continue to manufacture, market and import Sanofi SA products, ensuring continued supply for patients in Bangladesh across therapeutic areas such as cardiology, diabetes, oncology, dermatology and CNS.
These treatments, as well as opportunities to introduce Sanofi's future global brands, will drive the future growth of Beximco Pharma by expanding its addressable market and reinforcing the Company's commitment to ensure access to breakthrough therapies and affordable medicines, the release added.
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