Beximco Pharma Regulatory News (BXP)

10 Sep 2007 08:33

Beximco Pharmaceuticals Ltd10 September 2007 BEXIMCO PHARMACEUTICALS LTD. 10 September 2007 Beximco Pharma Commences Exports to Philippines Beximco Pharmaceuticals Ltd. ("BPL" or the "Company"), the leadingpharmaceutical manufacturer and the largest pharmaceutical exporter ofBangladesh, is pleased to announce the commencement of the supply of itsmedicines to Philippines. Philippines is the fifth ASEAN (Association of South East Asian Nations) countryafter Singapore, Vietnam, Cambodia and Myanmar where BPL has started exportingits medicines. The ASEAN is one of the fastest growing economies of the worldand Philippines is the third-largest country in ASEAN with a population of over91 million. The pharmaceutical market in Philippines, estimated to be US$1.3billion in 2007, is mostly dependent on imported medicines. Mr. Nazmul Hassan, CEO of Beximco Pharma said: "In our strategic expansion program, Philippines, being a member of ASEAN, isan important market for BPL. For strategic reasons, we are entering Philippineswith difficult to manufacture high-tech products such as Metered Dose Inhalers,Nasal Sprays etc. In Philippines, we are also registering BPL brands coveringstrategically important therapeutic groups like cardiovascular, lipid lowering,anti-diabetic, antibiotic, PPI etc. We believe that entering the Philippinepharmaceutical market with specialised products will accelerate BPL's expansionprogram in the ASEAN region." 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. The Company operatesfrom a 20 acre site in Dhaka and currently employs over 2,400 staff. The Company's products are sold to retail outlets, medical institutions andother pharmaceutical manufacturers in Bangladesh, in regional markets such asPakistan, Nepal, Bhutan, Cambodia and Myanmar and in other markets overseas,principally in East Africa and South East Asia, including Singapore. This information is provided by RNS The company news service from the London Stock Exchange