Beximco Pharma Regulatory News (BXP)

16 Dec 2005 07:01

Beximco Pharmaceuticals Ltd16 December 2005 16 December 2005 Beximco Pharmaceuticals Limited ("BPL" or the "Company") Trading Update - Reports sales growth of 23 per cent. Beximco Pharmaceuticals Limited, a leading manufacturer of genericpharmaceutical formulation products, active pharmaceutical ingredients andintravenous fluids in Bangladesh, today issues a trading update prior to the endof its financial year on 31 December 2005. At the Company's Annual Sales Conference held in Dhaka, Bangladesh earlier thisweek, the Company announced sales growth of approximately 23 per cent. in 2005compared to 2004. The Company also stated that according to independent marketdata, the total sales growth in the Bangladesh drug market for the 12-monthperiod to September 2005 was approximately 8.4 per cent. compared to theprevious 12-month period. Beximco Pharmaceuticals Limited is the first Bangladeshi company to get aninternational quote when its securities were admitted to trading on AIM inOctober 2005, following a placing of GDRs which raised $21 million. The Companyis also listed on the Dhaka and Chittagong stock exchanges in Bangladesh. Commenting on the performance, Nazmul Hassan, CEO of BPL stated, "We aredelighted to report such a robust performance this year which is down to thehard work and skill of the sales and marketing teams. The sales growth in 2005represents the highest year-on-year growth since 1995 and we hope to continue todemonstrate attractive growth to our local and international shareholders." Contact: Beximco Pharmaceuticals Limited+880 2 8619 151Nazmul Hassan Libertas Capital Financial Dynamics+44 (0)20 7569 9650 +44 (0)20 7831 3113Aamir Quraishi / James Patterson David Yates / John Gilbert 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. The Companyoperates from a 20 acre site in Dhaka and currently employs over 1800 staff. 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). In the year ended 31 December 2004, the business generated turnover ofapproximately Taka 2.77 billion or £23.5 million (2003: Taka 2.52 billion or£21.4 million) and profits after tax of approximately Taka 329.4 million or £2.8million (2003: Taka 237.8 million or £2.0 million). As at 31 December 2004,BPL's net assets were approximately Taka 5.17 billion or £43.9 million. This announcement is not for release, publication or distribution, in whole orin part, in or into the United States of America, Canada, Japan or Australia orany jurisdiction where such announcement would be unlawful. This information is provided by RNS The company news service from the London Stock Exchange