Last checked at 30 Jul 2019 07:00
30 July 2019
BEXIMCO PHARMACEUTICALS LTD.
Beximco Pharma launches fifth product in the US market
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, has commenced export of a blood pressure drug, Nadolol, to the US market. Nadolol tablets (20mg, 40mg and 80mg) are the generic equivalent of Bristol-Myers Squibb's Corgard tablets for treating hypertension and angina pectoris (chest pain). This is Beximco's fifth product for the US market following the successful launches of Carvedilol, Sotalol, Methocarbamol and Metformin. According to IQVIA audited data of US market, the total market for Nadolol was more than $63 million in 2018.
Mr. Nazmul Hassan MP, Managing Director of Beximco Pharmaceuticals, commented:"We are delighted to announce the launch of Nadolol, our fifth product in the US market, which demonstrates continued progress in expanding our presence in this important market. With a strong portfolio and an attractive pipeline of products in development for the US and other regulated and emerging markets, we are well positioned to continue to achieve double-digit growth in our export business."
In August 2016, Beximco Pharma became the first Bangladeshi pharmaceutical company to export medicine to the US market following its manufacturing site approval by the US FDA in June 2015.
Beximco Pharma is a leading exporter of pharmaceuticals in Bangladesh. The Company currently has a global footprint in more than 50 countries and has been accredited by the leading global regulatory authorities including US FDA, AGES (EU), TGA (Australia), Health Canada, GCC (Gulf) and TFDA (Taiwan).
The information communicated in this announcement contains inside information for the purposes of Article 7 of Regulation 596/2014.
For further information please visit www.beximco-pharma.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.