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%. The acquisition, subject to regulatory approvals, will allow RPL to manufacture original medicines, expand exports, and enhance capacity-building. NBL, with an annual turnover of Tk 400 crore and 500 employees, will retain its staff under similar compensation for at least three years. Standard Chartered Bank will finance 60% of the acquisition, with the remainder funded through equity. Novartis aims to ensure business continuity and continued access to innovative medicines in Bangladesh.
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