Beximco Pharma Regulatory News (BXP)

BEXIMCO PHARMACEUTICALS LTD.

1st July, 2013

Annual General Meeting Statement

Beximco Pharmaceuticals Limited ("BPL" or "Company"; AIM Symbol: BXP) today announces that all resolutions put before shareholders at the Company's Annual General Meeting held on 29 June 2013 were duly passed.

The Annual Report for 2012 is available from the Company's website, which includes the audited accounts that were previously sent to shareholders and a review of operations for the year to 31 December 2012.

During the course of the meeting, Chairman of the Company, Ahmed Sohail Fasiur Rahman, made the following statement to shareholders:

Dear Shareholders,

I am pleased to report continued progress during 2012 despite stiff competition in the domestic Pharmaceutical market and a challenging economic environment. We have achieved our sales and profit targets, made progress as planned in key operational areas, expanded our business in domestic as well as export markets; secured approvals for new units; added new product lines and expanded capacity. These achievements have brought us a step closer towards accomplishing our strategic goals and strengthening shareholder value.

Looking back to where we were in 2007, we reported domestic sales revenue of Tk. 3,474 million. At that time our export sales were Tk. 123 million. Over the last five years our domestic sales have more than doubled to reach Tk. 8,819 million and export sales have almost quadrupled to Tk. 470 million. In 2012 we exported our products to 32 countries around the world. Our pre and post-tax profit in 2007 was Tk. 400 million and Tk. 353 million respectively which increased to Tk. 1,910 million and Tk.1,319 million respectively in 2012.

During the 1st quarter of 2013, we achieved another milestone in our export operations by exporting two of our ophthalmic products to Germany and Austria. Export sales in the first quarter of 2013 have almost doubled over the corresponding period in the previous year. To sustain continued growth, the Company is committed to prudent investment in the business, in particular investment in R&D, facility upgrades, expansion of capacity and registration of products in international markets.

With our expansion into new markets underway and significant international accreditations achieved, Beximco Pharma is well positioned to continue to build the Company's presence in both domestic and international markets.

As announced in April, Mr. Ahsanul Karim resigned from the Board due to personal reasons. The Board thanks Mr. Karim for his guidance and valuable contribution during his time as a Director of the Company. Following Mr. Karim's resignation the Company announced the appointment of Barrister Faheemul Huq to the Board as an Independent Director. Mr. Huq is an advocate to the Supreme Court of Bangladesh and a Barrister-at -law in England and Wales. Mr. Huq is a welcome addition to the Board where he will also become Chairman of the Company's Audit Committee.

I would like to thank all of our employees for their continued support and hard work, without which the achievements we have made so far would not have been possible. We are also grateful to our shareholders for their longstanding support to the Company.

Looking ahead, we are confident that the strategy adopted by management, will ensure the long-term prospects of the Company and create significant value for shareholders.

A S F Rahman

Chairman

For further information please visit www.beximco-pharma.com or enquire to:

Beximco Pharma

Nazmul Hassan MP, Managing Director

Tel: +880 2 861 9151, ext.20080

Md. Asad Ullah, FCS, Executive Director & Company Secretary

Tel; +880 2 8618220-1, Ext 10140

Libertas Capital Corporate Finance (Nomad)

Thilo Hoffmann

Tel: +44 (0)20 7569 9650

Daniel Stewart & Company (Broker)

Paul Shackleton

James Thomas

Tel: +44 (0)20 7776 6550

FTI Consulting

Simon Conway / Susan Stuart / Victoria Foster-Mitchell

Tel: +44 (0)20 7269 7169

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, nebulizer solutions etc. Ensuring access to quality medicines is the powerful aspiration that motivates 2,700 employees of the Company.

Beximco Pharma's state-of-the-art manufacturing facilities are certified by global regulatory authorities of Australia, European Union, Gulf nations, and Brazil, 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 Africa, including Mauritius, Kenya, Ghana and Nigeria, Pacific Island and Latin & Central American countries, Middle East and South East Asia, including Singapore, Malaysia, Philippines and Hong Kong.