Beximco Pharmaceuticals Limited Sponsored GDR RegS (GB:BXP) has released an update.
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Beximco Pharmaceuticals Ltd has issued a statement to correct recent media reports in Bangladesh accusing the company of money laundering and involvement in fraudulent loans. The company clarified that it holds a minor stake in Jubail Pharma, received through a technology transfer agreement and approved by the Bangladesh Central Bank, but has no operational involvement with Jubail Pharma. Furthermore, Beximco Pharma is not implicated in the loan-related allegations against the Beximco Group and its Non-Executive Vice-Chairman’s legal issues do not affect the company’s daily operations.
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