Last checked at 17 Jun 2016 07:00
BEXIMCO PHARMACEUTICALS LTD.
17 June, 2016
Beximco Pharma commences export to Kuwait
First time a Bangladeshi pharmaceutical company has launched pharmaceutical products in any Gulf member country
Beximco Pharmaceuticals Limited ("BPL", "Beximco Pharma" or "Company"), the fast-growing manufacturer of generic pharmaceutical products and active pharmaceutical ingredients, announces that it has commenced the export of pharmaceuticals to Kuwait. This marks the first time a Bangladeshi pharmaceutical company has launched pharmaceutical products in any Gulf member country under the Gulf Cooperation Council (GCC).
A launch ceremony was held at Beximco Pharma's factory in Dhaka to mark the shipment of the first consignment to Kuwait in the presence of the Ambassador of Kuwait, His Excellency Mr. Adel Mohammad A. H Hayat.
Initial exports to Kuwait from Beximco Pharma include two metered-dose inhaler products for asthma and other respiratory conditions, namely Azmasol (Salbutamol), Bexitrol-F (Salmeterol plus Fluticasone) and one blood pressure drug Amdocal (Amlodipine). The Company expects to launch additional products in Kuwait later this year. We estimate the combined Gulf market to be worth USD 9 Billion and the Kuwait market alone to be worth USD 1.5 Billion.
Managing Director of Beximco Pharma, Nazmul Hassan MP, commented:
"Beximco Pharma continues to build its presence in emerging and developed markets. The Company is increasingly focused on regulated markets, such as the US, EU, GCC and Australia, where the demand for generic pharmaceutical products is rising. The Gulf market is an important market for us and the launch of our products in Kuwait will open up new opportunities in the region. We will continue to expand our product range in the Gulf market, providing patients with safe and affordable treatment options."
Beximco Pharma is the largest exporter of pharmaceuticals in Bangladesh, winning the country's National Export Trophy 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 the US FDA, AGES (EU), TGA Australia, Health Canada, GCC and TFDA.
For further information please visit www.beximcopharma.com or enquire to:
Beximco PharmaNazmul Hassan MP, Managing Director Tel: +880 2 58611001, ext.20080
SPARK Advisory Partners Limited (Nominated Adviser)Mark Brady / Sean Wyndham-QuinTel: +44 (0)20 3368 3551 / 3555
FTI ConsultingSimon Conway / Victoria Foster Mitchell Tel: +44 (0)20 3727 1000
Notes to Editors About Beximco Pharmaceuticals LimitedFounded 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, oral soluble films etc. Ensuring access to quality medicines is the powerful aspiration that motivates 3,000 employees of the Company.
Beximco Pharma′s state-of-the-art manufacturing facilities are certified by global regulatory authorities of USA, Australia, Europe, Latin America, and Canada, 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 South Africa, Mauritius, Kenya, Ghana, Ethiopia, Uganda and Nigeria; Pacific Island; Latin and Central American countries; Middle East; Central Asia, including Azerbaijan; South East Asia, including Singapore, Taiwan, Malaysia, Indonesia, Philippines and Hong Kong; Europe, including Austria, Germany and Romania; Australia etc.