Beximco Pharma stocks soar on Sanofi takeover news Star Business Report Star Business Report
While investors continued to exhibit a tendency towards profit-booking, stocks of Beximco Pharmaceuticals rose 5.15 per cent to Tk 208.40 yesterday after news broke that it would buy a major stake in Sanofi Bangladesh.
The DSEX, the Dhaka Stock Exchange s (DSE) benchmark index, dropped 20 points, or 0.35 per cent, to 5,815 yesterday.
The local drug company s stock was the most sought-after of the day thanks to the firm s recent announcement that it would buy 54.6 per cent of Sanofi s Bangladesh unit in order to diversify its product base.
The remaining 45.4 per cent shares are owned by the Bangladesh government, according to a disclosure on the DSE website.