Bangladesh, Sept. 16 -- Beximco Pharmaceuticals is set to overhaul its board and sever a key link with its embattled sponsor group as the drug maker seeks to shield its business and investors from the political fallout surrounding Vice Chairman Salman F Rahman.

Advertisement Mr Rahman has agreed to step down from the board after the company informed the Bangladesh Securities and Exchange Commission (BSEC) that his continued involvement could hamper business and shareholders' interests.

His departure would mark a significant shift in governance for one of the country's largest listed drug makers, whose corporate fortunes have increasingly been overshadowed by the legal and financial troubles that have entangled the Beximco Group, market...