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5 August 2016
BEXIMCO PHARMACEUTICALS LTD.
Beximco Pharma commences export to the United States
First Bangladeshi pharmaceutical company to launch pharmaceutical products in the US
Beximco Pharmaceuticals Limited ("BPL", "Beximco Pharma" or "Company"; AIM Symbol: BXP), the fast-growing manufacturer of generic pharmaceutical products and active pharmaceutical ingredients, today announces it has commenced the export of Carvedilol, a prescription drug for treating hypertension, to the US. This follows the product's approval from the US Food and Drug Administration ("US FDA") in November 2015 and is the first time a pharmaceutical product from Bangladesh has been launched in the US.
To mark the delivery of the first consignment on 4 August 2016, and to celebrate this milestone achievement for Beximco Pharma, a brief ceremony was held in the presence of Finance Minister, Mr. Abul Maal Abdul Muhith MP, Health and Family Welfare Minister, Mr. Mohammed Nasim MP and US Ambassador to Bangladesh Her Excellency Marcia Stephens Bloom Bernicat. Senior officials from different ministries, including the Export Promotion Bureau (EPB), the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) and the Bangladesh Association of Pharmaceutical Industries (BAPI) were also in attendance.
Commenting on the news, Beximco Group Vice Chairman Mr. Salman F Rahman said, "Today is a significant milestone for Beximco Pharma. As we deliver our first shipment of Carvedilol to the US market, we begin a new era for the pharmaceutical industry in Bangladesh. We believe our continued focus on building and strengthening the Group's presence in Western markets will cement Bangladesh's position as a major exporting country."
Beximco Pharma Managing Director Mr. Nazmul Hassan MP continued, "These initiatives are in line with our aspirations to expand our reach by taking products to the world. The US is the largest and most lucrative pharmaceutical market in the world. As a leading exporter of medicines, we always strive to capitalise on the generic drug opportunities in the world market. We believe our competitive products, especially with specialised and differentiated generic products, will help strengthen our presence in the US and other advanced markets."
Beximco Pharma became the first Bangladeshi pharmaceutical company audited and approved by the US FDA in June 2015.
Beximco Pharma is the largest exporter of pharmaceuticals in Bangladesh, winning the country's National Export Trophy (Gold) a record five times, the highest national accolade for export. The Company currently has a global footprint in more than 50 countries and has been accredited by a number of global regulatory authorities, including US FDA, AGES (EU), TGA Australia, Health Canada, GCC and TFDA.
For further information please visit www.beximcopharma.com or enquire to:
Nazmul Hassan MP, Managing Director
Tel: +880 2 58611001, ext.20080
SPARK Advisory Partners Limited (Nominated Adviser)
Mark Brady / Sean Wyndham-Quin
Tel: +44 (0)20 3368 3551 / 3555
Simon Conway / Victoria Foster Mitchell
Tel: +44 (0)20 3727 1000
Notes to Editors
About Beximco Pharmaceuticals Limited
Founded in 1976 and based in Dhaka, Bangladesh, Beximco Pharma manufactures and sells generic pharmaceutical formulation products and active pharmaceutical ingredients. The Company also undertakes contract manufacturing for multinational and leading global generic pharmaceutical companies. The Company operates from a 23 acre site in Dhaka and has manufacturing facilities for producing various drugs in different delivery systems such as tablets, capsules, liquids, semi-solids, intravenous fluids, metered dose inhalers, dry powder inhalers, sterile ophthalmic drops, prefilled syringes, injectables, nebuliser solutions, oral soluble films etc. Ensuring access to quality medicines is the powerful aspiration that motivates 3,000 employees of the Company.
Beximco Pharma′s state-of-the-art manufacturing facilities are certified by global regulatory authorities of USA, Europe, Australia, Canada, GCC and Latin America, among others. The Company's products are sold to retail outlets, medical institutions and other pharmaceutical manufacturers in Bangladesh, in regional markets such as Sri Lanka, Nepal, Bhutan, Vietnam, Cambodia and Myanmar and in other markets overseas, principally in South East Asia, including Singapore, Taiwan, Malaysia, Indonesia, Philippines and Hong Kong; Africa, including South Africa, Mauritius, Kenya, Ghana, Ethiopia, Uganda and Nigeria; Central Asia, including Azerbaijan; Middle East, including Kuwait and Jordan; Pacific Island countries; Latin and Central American countries; Europe, including Austria, Germany and Romania; Australia etc.
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