Beximco Pharma Regulatory News (BXP)

30 Apr 2007 12:13

Beximco Pharmaceuticals Ltd30 April 2007 BEXIMCO PHARMACEUTICALS LTD. Beximco Signs Agreement with Gulf Generics to Export Medicine to Middle East Beximco Pharmaceuticals Ltd. (BPL), the leading pharmaceutical manufacturer andthe largest pharmaceutical exporter in Bangladesh, today announces that it hassigned an agreement with Gulf Generics, a widely renowned and highly accreditedpharmaceutical distributor in the Gulf region. Gulf Generics is owned by themembers of the Kuwait Royal Family. Under the terms of the agreement, Gulf Generics will be responsible for thedistribution and marketing of BPL products to Kuwait and other Gulf CentralCommittee (GCC) states whose pharmaceutical market is currently valued at over$2 billion. Nazmul Hassan, Chief Executive Officer of BPL, said: "For over 25 years we have been leading the Bangladeshi pharmaceutical industryby setting new trends and exploring newer horizons of export opportunities. Aspart of our global expansion plan, we have always considered the Middle East asa high potential market and this agreement with Gulf Generics will help us markour presence in the Gulf region and is further evidence of our commitment to ourglobal growth." Mr. Monsur Yazdani Khan, Director of Gulf Generics of Kuwait commented, "The GCC countries are predominantly dependent on medicines from the developedWestern countries and we have been looking for a quality medicine manufacturerin Asia. After a thorough search, we are delighted to have selected BeximcoPharma to be our partner in the Gulf and look forward to importing its medicinesin the future." For further enquiries please contact: Beximco Pharma Tel: +880 2 861 9151, ext.2080Nazmul Hassan, CEO Financial Dynamics Tel: +44 (0)20 7269 7169John Gilbert Libertas Capital Tel: +44 (0)20 7569 9650Aamir Quraishi/Andrew Hardy About Beximco Pharmaceuticals Limited Founded in 1976 and based in Dhaka, Bangladesh, BPL manufactures and sellsgeneric pharmaceutical formulation products, active pharmaceutical ingredientsand intravenous fluids. The Company also manufactures and markets its ownbranded generics for almost all diseases. The Company also undertakes contractmanufacturing for multinational pharmaceutical companies. BPL operates from a 20acre site in Dhaka and currently employs over 2,300 staff. The Company's products are sold to retail outlets, medical institutions andother pharmaceutical manufacturers in Bangladesh, in regional markets such asPakistan, Nepal, Bhutan and Myanmar and in other markets overseas, principallyin East Africa and South East Asia, including Singapore. This information is provided by RNS The company news service from the London Stock Exchange