Last checked at 20 Jan 2022 09:00
20 January, 2022
BEXIMCO PHARMACEUTICALS LTD.
Beximco Pharma granted license to produce molnupiravir for COVID-19
Beximco Pharmaceuticals Limited ("Beximco Pharma", "BPL" or "the Company"), the fast-growing manufacturer of generic pharmaceutical products and active pharmaceutical ingredients, announces that the United Nations-backed Medicines Patent Pool (MPP) has expanded its network of partnered generic manufacturers to include Beximco Pharma. Under the partnership, the Company becomes one of the first Bangladeshi companies to be granted a sub-license by the MPP to produce molnupiravir, an oral drug for the treatment of COVID-19, originally developed by MSD, a trade name of Merck & Co., Inc, Kenilworth, NJ, USA, and in partnership with Ridgeback Biotherapeutics.
Molnupiravir is an oral antiviral to treat symptomatic COVID-19, which received conditional marketing authorization in the UK from the UK Medicines and Healthcare Regulatory Agency on 4 November 2021 and received Emergency Use Authorization in the US from the US Food and Drug Administration on 23 December 2021. The sub-license agreement is a result of the voluntary licensing agreement signed by the MPP and MSD in October 2021 to facilitate affordable global access for molnupiravir, which MSD is developing in partnership with Ridgeback Biotherapeutics. Under this agreement, MPP may sub-license the production of the drug to global generic drug manufacturers to ensure a steady supply in different regions of the world.
Beximco Pharma will manufacture molnupiravir in Bangladesh and expects to start domestic distribution and export from the end of 2022, following successful technology transfer and manufacturing regulatory approvals, under license from MPP. The Company will continue to sell its own generic version of molnupiravir (Emorivir), as announced on 9 November 2021, under the World Trade Organization's Least Developed Country (LDC) waiver in the meantime.
Managing Director of Beximco Pharma, Nazmul Hassan MP, commented:
"Since the start of the pandemic, we have remained committed to assessing opportunities to increase the access and affordability of COVID-19 treatments for patients. As such, we are delighted to have been granted a sub-license to produce molupiravir by the United Nations-backed Medicines Patent Pool. To partner with such a prestigious organisation is testament to the quality of our manufacturing capabilities and is also aligned to our corporate mission by enabling broad access to this oral treatment in many low- and middle-income countries."
For further information please visit www.beximcopharma.com or enquire to:
Beximco PharmaNazmul Hassan MP, Managing DirectorTel: +880 2 58611001, ext. 20080S M Rabbur Reza, Chief Operating OfficerTel: +880 2 58611001, ext. 20111Mohammad Ali Nawaz, Chief Financial OfficerTel: +880 2 58611001, ext. 20030SPARK Advisory Partners Limited (Nominated Adviser)Mark Brady / Andrew EmmottTel: +44 (0) 20 3368 3551 / 3555SP Angel Corporate Finance LLP (Broker)Vadim Alexandre / Abigail WayneTel: +44 (0) 20 3470 0470FTI ConsultingSimon Conway / Victoria Foster MitchellTel: +44 (0) 20 3727 1000Notes to EditorsAbout Beximco Pharmaceuticals LimitedBeximco Pharma is a leading manufacturer and exporter of medicines based in Bangladesh. Since its inception in 1976, the Company remains committed to health and wellbeing of people across all the continents by providing access to contemporary medicines. Company's broad portfolio of generics encompasses diverse delivery systems such as tablets, capsules, liquids, semi-solids, intravenous fluids, metered dose inhalers, dry powder inhalers, sterile ophthalmic drops, insulins, prefilled syringes, injectables, nebuliser solutions, oral soluble films etc. The Company also undertakes contract manufacturing for multinational and leading global generic pharmaceutical companies.Beximco Pharma′s state-of-the-art manufacturing facilities are certified by global regulatory authorities of USA, Europe, Australia, Canada, GCC and Latin America, among others and it has a geographic footprint in more than 50 countries. More than 5,500 employees are driving the company towards achieving its aspiration to be among the most admired companies in the world.
About The Medicines Patent Pool
The Medicines Patent Pool (MPP) is a United Nations-backed public health organisation working to increase access to, and facilitate the development of, life-saving medicines for low- and middle-income countries. Through its innovative business model, MPP partners with civil society, governments, international organisations, industry, patient groups, and other stakeholders, to prioritise and license needed medicines and pool intellectual property to encourage generic manufacture and the development of new formulations.
To date, MPP has signed agreements with 13 patent holders for thirteen HIV antiretrovirals, one HIV technology platform, three hepatitis C direct-acting antivirals, a tuberculosis treatment, two long-acting technologies, two experimental oral antiviral treatments for COVID-19 and a COVID-19 serological antibody diagnostic test.
MPP was founded by Unitaid, which continues to be MPP's main funder. MPP's work on access to essential medicines is also funded by the Swiss Agency for Development and Cooperation (SDC). MPP's activities in COVID-19 are undertaken with the financial support of the Japanese Government, the French Ministry for Europe and Foreign Affairs, and SDC.