Beximco Pharma Regulatory News (BXP)

20 Dec 2006 07:00

Beximco Pharmaceuticals Ltd20 December 2006 BEXIMCO PHARMACEUTICALS LTD. 20th December 2006 Trading update Beximco Pharmaceuticals Limited ("BPL" or the "Company") (AIM Symbol: BXP), theleading drug manufacturer in Bangladesh, today announces a year end tradingupdate. BPL's reported revenues for the year ended 31st December 2006 are anticipated tobe materially ahead of revenues last year, showing over 10% growth on theprevious year, despite capacity constraints and the reported politicalinstability in the country. During 2006, the Company has successfully introduced CFC-free ozone-benignHFA-based inhalers to the market and also it has achieved encouraging growthoverseas, entering new markets in Sri Lanka, Cambodia, Bhutan and Somalia.Manufacturing has also begun this year on the new Oral Solid Dosage (OSD) plant,providing much needed extra capacity. BPL's preliminary results are expected to be announced at the end of April 2007. Nazmul Hassan, CEO of BPL, commented: "2006 has been another year of significant progress for the company as the fundsraised in the IPO and after have allowed us to expand into new markets,introduce new products to the market and open our new OSD plant. This plant willprovide us with the much needed capacity to increase our growth rates as we aimto introduce new technologies and new brands to our expanding portfolio ofproducts in 2007." 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 DynamicsJohn 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 2300staff. 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