Beximco Pharma Regulatory News (BXP)

30 March 2020

BEXIMCO PHARMACEUTICALS LTD.

Beximco Group donate personal protective equipment to healthcare professionals in Bangladesh during COVID-19 pandemic

Beximco Pharmaceuticals Limited ("Beximco Pharma", "BPL" or "the Company"; AIM Symbol: BXP, LEI No.: 213800IMBBD6TIOQGB56), the fast-growing manufacturer of generic pharmaceutical products and active pharmaceutical ingredients, in collaboration with its parent company Beximco Group, announces the donation of personal protective equipment (PPE) to healthcare professionals across Bangladesh following the outbreak of the COVID-19 pandemic.

As of 27 March 2020, Bangladesh has reported 48 cases of COVID-19 and 5 deaths as a result of the virus, with a number of people suspected of having COVID-19 under quarantine. Healthcare professionals are coming under increased pressure in their fight against this pandemic and, without the appropriate PPE, risk their own health when treating patients and conducting research.

Beximco Pharma will distribute PPE, which include protective gowns, face masks, gloves and goggles, in two phases:

· In the first phase, the Company will distribute sufficient numbers of PPE to two testing centres (Institute of Epidemiology Disease Control And Research (IEDCR) and International Centre for Diarrhoeal Disease Research, Bangladesh (icddr,b)) and government-designated hospitals for COVID-19 treatment (Kuwait Maitri Hospital, Kurmitola General Hospital, Bangladesh Railway Hospital in Kamlapur, Mahanagar General Hospital in Nayabazar, BAVS Maternity Hospital in Mirpur, Kamrangirchar 31-bed Hospital, Aminbazar 20-bed Hospital, and Jinjira 20-bed Hospital).

· In the second phase, Beximco Pharma will expand distribution of PPE nationwide to more than 150 leading hospitals. 

Nazmul Hassan MP, Managing Director of Beximco Pharma, said: "During this time of global crisis, Bangladesh urgently needs a supply of medicines for treatment, test kits for diagnosis and PPE for protecting the frontline healthcare workers dealing with COVID-19 patients every day. At Beximco Pharma, we will continue to provide essential PPE in order to ensure the safety of the doctors, nurses, and patients and help to maintain normal hospital activity as much as possible. In addition, Beximco Pharma is actively involved in various initiatives and support programmes in response to the COVID-19 outbreak. These include arranging much needed ventilators from abroad for critical COVID-19 patients and, in collaboration with a research organisation of international repute, providing financial support in the creation of modern laboratory facilities and enhancing hospital facilities."

A S F Rahman, Chairman of Beximco Group, added: "We are committed to extending support during this national emergency. As the spread of COVID-19 accelerates, affecting almost every country around the world, we are facing an unprecedented challenge to cope with the impact of this pandemic. Ensuring access to personal protective equipment is a top priority of Beximco Pharma, and we are proud to be responding to this need to ensure the safety of healthcare professionals in Bangladesh. We will continue to provide our wholehearted support to the government in facing this crisis."

Salman F Rahman, Vice-Chairman of Beximco Group and Private Industry and Investment Adviser to Hon'ble Prime Minister, commented: "Corporates of Bangladesh are acutely aware of their social responsibilities and have always joined national efforts to tackle any crisis." Referring to the Prime Minister's speech stating this fight against COVID-19 is a war and a testing time for humanity, Salman added: "It has to be fought on all fronts, involving both private and public sectors. I believe the initiative of Beximco Group will inspire other entities, large and small, in Bangladesh to come forward in helping the government to tackle this crisis to the best of their abilities."

Beximco Group has contributed BDT15 crore (US$1.8 million) to support this initiative.

For further information please visit www.beximcopharma.com or enquire to:

Beximco Pharma

Nazmul Hassan MP, Managing Director

Tel: +880 2 58611001, ext.20080

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

Tel; +880 2 58611891, +880 2 58612040, Ext 10140

SPARK Advisory Partners Limited (Nominated Adviser)

Mark Brady / Andrew Emmott

Tel: +44 (0)20 3368 3551 / 3555

SP Angel Corporate Finance LLP (Broker)

Vadim Alexandre / Abigail Wayne

Tel: +44 (0) 20 3470 0470

FTI Consulting

Simon Conway / Victoria Foster Mitchell

Tel: +44 (0)20 3727 1000

Notes to Editors

About Beximco Pharmaceuticals Limited

Beximco Pharma is a leading manufacturer and exporter of medicines based in Bangladesh. Since its inception in 1976, the Company remains committed to health and wellbeing of people across all the continents by providing access to contemporary medicines. Company's broad portfolio of generics encompasses diverse delivery systems such as tablets, capsules, liquids, semi-solids, intravenous fluids, metered dose inhalers, dry powder inhalers, sterile ophthalmic drops, insulins, prefilled syringes, injectables, nebuliser solutions, oral soluble films etc. The Company also undertakes contract manufacturing for multinational and leading global generic pharmaceutical companies.

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 and it has a geographic footprint in more than 50 countries. More than 4,200 employees are driving the company towards achieving its aspiration to be among the most admired companies in the world.