Novartis (Bangladesh) Limited has been renamed as Nevian Lifescience PLC, following the historic acquisition of its majority shares by Radiant Pharmaceuticals Limited from Novartis AG Switzerland.
This milestone has been achieved after fulfilling all statutory and regulatory requirements, ensuring a seamless and compliant transition, while the shareholding status of Bangladesh Chemical Industries Corporation (BCIC) in the Company remains unchanged.
The Swiss pharmaceutical innovator Novartis and its predecessor companies trace a history of more than 250 years in scientific innovation and healthcare leadership while in Bangladesh, operations began in 1973 with the establishment of Ciba-Geigy (Bangladesh) Limited as a joint venture with BCIC.
Following the global merger of Ciba-Geigy and Sandoz AG in 1996, the entity was renamed Novartis (Bangladesh) Limited. With Novartis AG’s recent decision to divest its stake in Bangladesh, Nevian Lifescience PLC now assumes responsibility for carrying forward this rich legacy with renewed vision and commitment.
With this transition, Nevian Lifescience PLC ensures that patients in Bangladesh will have continued access to Novartis’ global brands manufactured under-license using the same process, under the same quality standards, at the same facility, as well as through import and distribution of Novartis’ innovative life-saving medicines under the banner of Nevian Lifescience PLC.
Musawath Shams Zahedee, Managing Director of Nevian Lifescience PLC, said: “Nevian represents continuity of the legacy and commitment for a better tomorrow. While the name is new, our promise remains unchanged — to ensure and expand access to trusted, life-saving medicines for patients in Bangladesh and beyond.”
Nevian Lifescience PLC, with its state-of-the-art EUGMP-certified manufacturing facility in Tongi, has already aligned with the Swiss pharmaceutical giant Sandoz to continue with exports to their global markets. The company is now envisioned towards expansion of exports to the USA, Europe, and other developed countries, positioning Bangladesh as a dependable global hub for high-quality pharmaceutical products.