Beximco Pharma Regulatory News (BXP)

BEXIMCO PHARMACEUTICALS LTD.

12th May, 2014

Results for the year ended 31 December 2013

Beximco Pharmaceuticals Limited ("Beximco Pharma", "BPL" or "the Company"; AIM Symbol: BXP), the fast-growing manufacturer of generic pharmaceutical products and active pharmaceutical ingredients, today announces its audited results for the year ended 31 December 2013.

Highlights:

Corporate

· Launched 23 products in the domestic market; 6 of which were launched for the first time in Bangladesh

· Registered 38 products in 14 different countries; Madagascar, Estonia and Uganda being new to the list

· Commenced export of two ophthalmic products to Europe (Germany and Austria) for the first time

· Obtained marketing authorization for a product in Australia

· Marketing Authorization submission[s] made for one molecule in 5 European countries

· 3 ANDAs (Abbreviated New Drug Application) filed with US FDA (Food and Drug Administration)

Financial

· Net sales increased to BDT 10,490.7 million (£80.1 million) registering a y-o-y growth rate of 12.94% (2012: BDT 9,289.1 million (£78.1 million))

· Profit before tax increased 9.62% to BDT 2,093.6 million (£16.0 million) (2012: BDT 1,909.8 million) (£16.0 million))

· EPS rose by 6.37% to BDT 4.01 (restated 2012: BDT 3.77)

· The Company has declared a 5% stock dividend (i.e. 5 shares for every 100 shares held) and 10% cash dividend (i.e. BDT 1 per share) with record date set on 18 May 2014. Dividend is due within 30 days from the date of approval of the same at the Annual General Meeting (AGM)

· The AGM will be held on 21 June, 2014 at 10.30 am at the Beximco Industrial Park, Sarabo, Kashimpur, Gazipur, Bangladesh

Post year-end

· Launched 13 new products during the first quarter of 2014, including one product launched for the first time in Bangladesh

· 12 products registered in different overseas markets, including Columbia and Costa Rica

Nazmul Hassan MP, Managing Director of Beximco Pharmaceuticals, commented:

"Political turmoil made 2013 a challenging year for the entire industry, causing serious disruption to business activities, particularly during the last quarter. Despite this, we managed to achieve our growth targets, both in domestic and export markets, with our export business posting an excellent 42.79% growth over the previous year. We achieved a significant milestone by entering European markets with our ophthalmic products; this is the first time sterile ophthalmic formulations, produced in Bangladesh, have been exported to Europe. We are confident that with our focused strategy to achieve sustained growth, we are well on course to realize our targets and in creating value for our shareholders in the coming years"

Audited financial reports are available from the Company's website: www.beximcopharma.com and will be posted to shareholders in due course.

(Exchange rates of £1 = Taka 119.00 for 2012 numbers and £1 = Taka 131.03 for 2013 numbers have been used in this announcement).

For further information please visit www.beximco-pharma.com or enquire to:

Beximco Pharma

Nazmul Hassan MP, Managing Director

Tel: +880 2 861 9151, ext.20080

Md. Asad Ullah, FCS, Executive Director & Company Secretary

Tel; +880 2 8618220-1, Ext 10140

Daniel Stewart & Company (NOMAD and Broker)

Emma Earl

Paul Shackleton

Tel: +44 (0)20 7776 6550

FTI Consulting

Simon Conway / Victoria Foster Mitchell

Tel: +44 (0)20 7327 1000

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, 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.

Beximco Pharmaceuticals Limited

Statement of Financial Position

As at 31 December 2013

Beximco Pharmaceuticals Limited

Statement of Comprehensive Income

For the year ended 31 December 2013

Beximco Pharmaceuticals Limited

Statement of Changes in Equity

For the year ended 31 December 2013

Beximco Pharmaceuticals Limited

Statement of Cash Flows

For the year ended 31 December 2013