Novartis medicines to retain same names and quality under Nevian: MD Musawath

Musawath Shams Zahedee. Sketch: TBS

Following the transfer of majority shares, Novartis (Bangladesh) Limited has recently been renamed Nevian Lifescience PLC.

The company's Managing Director, Musawath Shams Zahedee, sat down with The Business Standard's Staff Correspondent Tawsia Tajmim to discuss Nevian's current and future plans under its new ownership and name.

Radiant has acquired Novartis. Tell us about that.

Radiant acquired 60% of Novartis Bangladesh's shares. Novartis' innovative product portfolio will be a great addition for Radiant. We are continuing the licensing and import agreement with Novartis, so patients in Bangladesh will receive the exact same Novartis medicines, with the same name, quality, and efficacy – only the company's name will now be Nevian Lifescience PLC.

In addition, Nevian will import Novartis' cutting-edge innovative medicines to meet the needs of patients in the country. Nevian is contractually committed to follow Novartis' global quality and compliance policies at every step of manufacturing, importing, and distribution. As a result, under the Nevian banner, the quality and efficacy of Novartis medicines will remain unchanged – a commitment Nevian strongly upholds.

So, you are saying only the name is changing?

Yes – in one sense, it is only a change of name. The acquisition was mainly to preserve Novartis' long-standing legacy. But we do not intend to stop there. We will remain vigilant and proactive about any required modernisation or improvements in service quality and expansion over time.

Will drug prices come down after this ownership change?

We always try to keep prices reasonable. We continuously work on reducing costs. However, prices ultimately depend on global market conditions. Quality, packaging, and efficacy will remain exactly the same; only the packaging will state "Under license of Novartis."

When will medicines under the Nevian brand be available in the market?

From October onwards, medicines will be available under the Nevian brand.

Why were you interested in acquiring Novartis' business?

Swiss multinational pharmaceutical company Novartis has over 250 years of history in researching and producing life-saving medicines. Patients in Bangladesh have been directly benefiting from these medicines for over five decades. 

Strategically, if Novartis were to exit Bangladesh, it would create a vacuum in terms of the reliability patients and doctors have had in these medicines. To fill that gap, we acquired not just the business or fixed assets but also the raw material sourcing, production know-how, and skilled workforce – to ensure that these medicines continue to be available in Bangladesh under the same names and with the same standards.

Will this acquisition impact Radiant's core business?

There will be no direct impact. Nevian and Radiant will remain independent companies. However, there will be synergy for both parties. Nevian can leverage Radiant's distribution coverage, and Nevian's innovative medicines will strengthen Radiant's portfolio.

Do you have any new plans for R&D?

Previously, Novartis did not have a fully-fledged R&D facility in Bangladesh. Nevian is now planning for that. We will gradually build local R&D capacity.

Where will Nevian's medicines be manufactured?

Production will continue at the same plant that Novartis used, located in the Tongi Industrial Area. The plant is EU-GMP certified. 

For many years, this plant has been exporting Sandoz medicines to more than 50 countries, including Europe, Canada, and South America. Under the new name, this relationship will continue. Nevian's headcount will remain around 500, and all employees will be retained.

Are you planning to increase exports?

Absolutely. Nevian's facility is EU-GMP certified, which gives us access to European, US, and other Western markets. We have already started working on an export revival plan. We expect export volumes to increase significantly in the future.

What is Nevian's future vision?

Our vision is to build a full-spectrum medicine portfolio. Whatever medicines are needed by the people of this country – we will either produce them ourselves or import them. Our single goal is to ensure people in Bangladesh get access to the latest treatments.