Radiant Pharmaceuticals Limited agreed to acquire 60% stake in Novartis (Bangladesh) Limited from Novartis AG (SWX:NOVN) on December 5, 2024. By transferring Novartis (Bangladesh) Limited?s majority ownership to Radiant, Novartis AG (SWX:NOVN) aims to ensure that the Bangladesh operations continue under the current legal entity while maintaining the distribution of products to patients by the entity. All permanent full-time employees under Novartis (Bangladesh) Limited will be retained under a similar compensation scheme for at least three years after closing.

The transaction is subject to approval by regulatory board / committee.