LDC Graduation Won’t Lead to Medicine Price Surge

The Bangladesh Securities and Exchange Commission (BSEC) fined 21 individuals and firms Tk 134 crore for manipulating shares of Bangladesh Finance and two Orion Group concerns. Tk 70.57 crore was levied for Bangladesh Finance manipulations, with notable fines including Tk 17 crore on Abu Sadat Md Sayem and Tk 9 crore on Sameer Sekander.

The interim government plans to sell ownership of 32 Beximco Group companies as a solution to ongoing worker unrest over unpaid wages. At a 28 November meeting, Janata Bank was instructed to finalize an Expression of Interest (EoI) for selling "B" category companies, which include 16 textile and garment factories, by 9 December.

Radiant Pharmaceuticals Limited (RPL), a leading Bangladeshi healthcare company, is set to acquire a majority stake in Novartis Bangladesh Limited (NBL) by purchasing the 60% share held by Novartis AG, while the state-owned BCIC retains 40%.

Sinha Securities' Chairman, Parveen Akhter Khanam, will sell 2 lakh shares of ACME Laboratories from her 65.15 lakh shareholding to reduce a deficit in the brokerage firm's consolidated customer account (CCA). The shares, valued at over Tk1.47 crore, will be sold under the Bangladesh Securities and Exchange Commission's (BSEC) directive.

Renata PLC, a pharmaceutical and chemical sector company listed on the stock exchange, has decided to issue preference shares to raise Tk 325 crore from the market. The decision was made at the 231st board meeting of Renata, on November 23.

Navana Pharmaceuticals reported a 12% year-on-year profit growth in the July-September quarter of FY2024, reaching Tk 13.37 crore. Its earnings per share (EPS) increased to Tk 1.25 from Tk 1.11 in the same period last year, driven by strong sales and better material utilisation. Net sales jumped by 31% year-on-year to Tk 213.74 crore, according to the company’s unaudited financial statements.