Beximco Pharma Regulatory News (BXP)

13 March 2014

Board Changes

Beximco Pharmaceuticals Limited ("BPL" or "the Company"; AIM Symbol: BXP), the fast-growing manufacturer of generic pharmaceutical products and active pharmaceutical ingredients, is pleased to announce the appointment of Mr. Mahbubul Alam and Mr. Abdur Rahman Khan to the Board as Non-Executive Independent Directors with immediate effect. The company also announces the resignation of Mr. Faheemul Huq as a Non-Executive Independent Director.

Mr. Huq's resignation was accepted by the Board at a Board meeting held on 13 March 2014, becoming effective immediately. Mr. Huq resigned for personal reasons and the Board wishes to thank Mr. Huq for the guidance and contribution given while a director of the company.

Mahbubul Alam, aged 78, is a retired senior public administrator and prominent media personality. He was the editor of The Independent, a trend setting English newspaper in Bangladesh and served as the Chairman of Newspaper Owners Association of Bangladesh (NOAB). In addition to his journalism career, Mr. Alam has held various important positions in the Government of Bangladesh. He is a former Advisor (Cabinet Minister) to the Caretaker Government of Bangladesh. He also served as Press Minister at the Embassy of Bangladesh in Washington D.C. with the rank and the status of an Ambassador. He was the press counsellor at the Bangladesh High Commission in London and the Ambassador of Bangladesh in Bhutan. He was also the Director General, External Publicity Wing and Spokesman for the Ministry of Foreign Affairs, Dhaka. He has participated in many international conferences at home and abroad. He received an M.A. in Political Science from University of Dhaka and also received training in journalism and commonwealth relations as a fellow of commonwealth press union.

Abdur Rahman Khan, aged 86, is a very senior and prominent physician in Bangladesh. He is the Chief Consultant Physician and Professor of Medicine, BIRDEM (Bangladesh Institute of Research and Rehabilitation in Diabetes, Endocrine and Metabolic Disorders), Chairman, Board of Management of BIRDEM and Member of National Council of Diabetic Association of Bangladesh. He is a fellow of the Royal College of Physicians of London and a fellow of the College of Physicians and Surgeons of Bangladesh. He is also a member of the International Diabetes Federation and an honorary member of the Association of Military Surgeons, USA. He joined the Bangladesh Army as a Commissioned Officer in Army Medical Corps and retired as a Major General. He was an Advisor to the Caretaker Government of Bangladesh and previously Vice President of the Red Crescent and Red Cross society of Bangladesh. He also holds a Bachelor of Medicine and Bachelor of Surgery (MBBS) (Calcutta) and is a Member of the Royal College of Physicians (MRCP) (London and Glasgow).

Mr. Alam and Mr. Khan have been appointed as Independent Directors for an initial term of three years, subject to shareholder approval at the Company's next AGM. Mr. Alam will take over the role of Chairman of the Audit Committee while Mr. Khan will be a Member of the same Committee.

Ahmed Sohail Fasiur Rahman, Chairman of Beximco Pharmaceuticals, said: "Mr. Alam and Mr. Khan are very valuable additions to the Board. As they have high exposure and recognition locally and internationally, we expect they will enhance the goodwill of the company tremendously. Mr. Alam will help the company in the areas of Corporate Governance and Mr. Khan being a very senior and respectable physician in Bangladesh, is expected to help the company to increase market share in local and international markets. It is expected by the Board that both of them will enrich the company with their knowledge, experience and expertise and their guidance will help the company to enter into a new era of success."

There is no further information required relating to Mahbubul Alam or Abdur Rahman Khan to be disclosed under paragraph (g) of Schedule 2 of the AIM Rules.

Ends

For further enquiries please contact:

BeximcoPharma

Nazmul Hassan MP, Managing DirectorTel: +880 2 861 9151, ext.2080

Daniel Stewart & Company

Paul Shackleton

Emma Earl

Tel: +44 (0)20 7776 6550

FTI Consulting

Simon Conway / Victoria Foster-MitchellTel: +44 (0)20 7269 7169

Notes to Editors

About Beximco Pharmaceuticals Limited

Founded in 1976 and based in Dhaka, Bangladesh, BeximcoPharma 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.

BeximcoPharma'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.