Beximco Pharma Regulatory News (BXP)

2 May 2006 07:03

Beximco Pharmaceuticals Ltd02 May 2006 2nd May, 2006 Beximco Pharmaceuticals Limited Results for the year ended 31 December 2005 Beximco Pharmaceuticals Limited (AIM Symbol: BXP) today announces its resultsfor the year ended 31 December 2005. Highlights Products • 49 products launched across a range of therapeutic classes • 55 new product registrations in export markets • Sri Lanka has become a new export market Corporate • Successfully integrated Beximco Infusions Limited • Successfully placed £12 million and admitted GDRs to trading on AIM in October 2005 • Completed construction of new Oral Solid Dosage (OSD) plant built to USFDA standards and two out of five new OSD lines are currently being installed • Commenced conversion of Metered Dose Inhaler (MDI) plant to manufacture HFA inhalers with the technical collaboration of Bespak Europe. Conversion is scheduled to be completed during Q3 2006 Financial* • Net Sales increased by 38% to over Tk.3,327.0m (£26.5m) (20% increase on a pro-forma basis) • Profit before tax** increased by 37.9% to Tk.509.6m (£4.1m) (21.4% increase on a pro-forma basis • EPS increased by 35% to Tk. 6.36 (5.1p) • Cash dividend of 15% (gross) of par value (representing Tk.1.5, or 1.2p per share) declared with record date of 1 June 2006, and payment date on or before 21 August 2006. Post year end highlights • Introduced Oseflu(R) (Oseltamivir) to the Bangladesh market which aims to combat the growing threat of Bird Flu • Launched 14 new products in the first quarter of 2006 • Signed agreement with a leading Indian API manufacturer to set up an API plant for Ranitidine, Ciprofloxacin & Omeprazole • Commenced manufacturing of Penicillin API The AGM will be held on 22 June 2006 at 10.30 a.m. at 1 Shahbag C/A, Dhaka,Bangladesh Nazmul Hassan, CEO of Beximco pharmaceuticals, commented: "Beximco Pharmaceuticals has had an extremely good year, and the successfulflotation on AIM has enabled us to progress our strategic plans. "We have continued our growth into 2006, and have already successfully launched14 new products, most significantly the introduction of our generic bird fludrug, Oseflu(TM)into the Bangladeshi market. We believe that Beximco Pharma hasa strong platform to continue to grow profitably in both the domestic andinternational markets." The full audited accounts are available from the Company's website:www.beximco-pharma.com * Financial figures on a pro-forma basis include the result of BPL and BeximcoInfusions Limited which was effectively integrated into BPL from 1 July 2005 ** Profit before tax and contribution to Workers' Profit Participation Fund Exchange rate used: £1=Tk.125.35 For further enquiries please contact: Beximco PharmaNazmul Hassan, CEOTel: +880 2 861 9151, ext.2080 Libertas CapitalAamir Quraishi/Charles GoodfellowTel: +44 (0)20 7569 9650 Financial DynamicsDavid Yates / John GilbertTel: +44 (0)20 7269 7169 Notes to Editors 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 undertakes contract manufacturing forGlaxoSmithKline and is about to commence manufacturing for Novartis. TheCompany operates from a 20 acre site in Dhaka and currently employs over 1800staff. The Company's products are sold to retail outlets, medical institutions andother pharmaceutical manufacturers in Bangladesh, in regional markets such asPakistan, Nepal and Myanmar and in other markets overseas, principally in EastAfrica (including Kenya) and South East Asia (including Singapore). This information is provided by RNS The company news service from the London Stock Exchange