TIDMBXP
RNS Number : 6582V
Beximco Pharmaceuticals Ltd
07 November 2017
7 November 2017
BEXIMCO PHARMACEUTICALS LTD.
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:
Beximco Pharma
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
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 3,500 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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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