TIDMBXP
RNS Number : 3255G
Beximco Pharmaceuticals Ltd
05 August 2016
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:
Beximco Pharma
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
FTI Consulting
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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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