Last checked at 11 Feb 2013 07:00
February 11, 2013
News Release
Beximco Pharma Enters EU Market
Beximco Pharmaceuticals Limited ("BPL" or "the Company"; AIM Symbol: BXP), the fast-growing manufacturer of generic pharmaceutical products and active pharmaceutical ingredients, today announces that it has commenced export of Company products to Europe.
Initially shipments of two ophthalmic products, Latanoprost and a combination of Latanoprost and Timolol, will be exported to Germany and Austria with other EU countries to follow. Latanoprost and Timolol are used to reduce the pressure inside the eye for people with open-angle glaucoma or intraocular hypertension (increased pressure in the eye). The Company expects to launch additional new products in the EU later this year.
Managing Director of Beximco Pharma, Nazmul Hassan MP, commented:
"Beximco has established a presence in a growing number of markets around the world. The Company is increasingly focused on penetrating large and highly regulated markets such as the EU and US, where the demand for generic products continues to rise. Beximco has developed high quality pharmaceutical facilities in Bangladesh, with a competitive cost structure for manufacturing and exporting generic drugs. This is a combination that is of increasing importance as governments strive to reduce healthcare costs without compromising on quality. We look forward to launching further products in Europe, the 2nd largest pharmaceutical market in the world with sales in excess of US$265 billion1, and providing patients with safe and affordable treatment options."
Beximco Pharma is the largest exporter of pharmaceuticals in Bangladesh, the only company to win the National Export Trophy (Gold), the highest national accolade for export, a record four times. The Company currently has a global footprint in more than 50 countries. In addition to EU regulatory certification, Beximco Pharma has also received accreditations from TGA Australia, GCC (Gulf member states), and ANVISA (Brazil). The Company's ophthalmic facility is the only ophthalmic facility in Bangladesh accredited by the European and Australian drug regulatory authorities.
Ends
For further enquiries please contact:
Beximco Pharma
Nazmul Hassan MP, Managing DirectorTel: +880 2 861 9151, ext.2080
Md. Asad Ullah, FCS, Executive Director & Company Secretary
Tel; +880 2 8618220-1, Ext 1140
Libertas Capital Corporate Finance
Thilo Hoffmann
Tel: +44 (0)20 7569 9650
FTI Consulting
Simon Conway / Susan Stuart / Victoria Foster-MitchellTel: +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.
References:
1 IMS Market Prognosis International, May 2012