BEXIMCO PHARMACEUTICALS LTD.
7 November 2017
Beximco Pharma commenced its second product export to the US
Remains Bangladesh’s only pharmaceutical company to export pharmaceutical products to 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 Sotalol Hydrochloride (80 mg, 120 mg and 160 mg), a generic version of the cardiovascular drug Betapace, to the US. Following the successful launch of Carvedilol to the US in August 2016, this is the second product from Beximco Pharma to be exported to the US.
According to QuintlesIMS data, the market size for Satalol Hydrochloride (including all strengths) in the US is $23 million. The first consignment was delivered on 29 October 2017 and the product will be distributed through the Company’s existing partner in the US.
Managing Director of Beximco Pharma, Mr. Nazmul Hassan MP commented:
“We are delighted to strengthen our presence in the US with the launch of our second product in this market. With the export of our first product to the US in August 2016, we began a new era for the pharmaceutical industry in Bangladesh that we continue to build with the launch of Sotalol. Beximco Pharma remains the only Bangladeshi company to export pharmaceutical products to the US, which is a validation of our expertise in offering specialised generic products in a global setting. With our growing pipeline for the US, we will focus on increasing our presence in the world’s largest pharma market in the coming years.”
In June 2015, Beximco Pharma became the first Bangladeshi pharmaceutical company audited and approved by the US Food and Drug Administration (FDA).
Beximco Pharma is one of the largest exporters 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, Austria (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 / Andrew Emmott
Tel: +44 (0)20 3368 3551 / 3555
Northland Capital Partners Limited (Broker)
Gerry Beaney / Tom Price
Tel: +44 (0)20 3861 6625
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 3,500 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, Thailand, 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 and North America, including the USA and Canada.