Last checked at 7 Jul 2021 14:23
7 July 2021
BEXIMCO PHARMACEUTICALS LTD.
Update on the supply of COVID-19 vaccine
Beximco Pharmaceuticals Limited ("Beximco Pharma" or "the Company"; AIM Symbol: BXP, LEI No.: 213800IMBBD6TIOQGB56), the fast-growing manufacturer of generic pharmaceutical products and active pharmaceutical ingredients, provides a further update on the supply of COVID-19 vaccine in Bangladesh.
As previously announced, Beximco Pharma has had an agreement with the Government of Bangladesh (GOB) and the Serum Institute of India Private Limited (SII) that required SII to deliver a total of 30 million doses to GOB. These deliveries were originally planned to be completed by 7 July 2021 (within six months of the vaccine's regulatory approval), with Beximco Pharma to receive a separate fee for its role in storage and nationwide distribution of the vaccine. Further to the Company's announcement on 28 April 2021, the Indian Government's controls on vaccine exports remain in place. SII has therefore been unable to supply any further vaccine doses to Bangladesh beyond the seven million doses that had already supplied to GOB during January and February 2021.
Beximco Pharma's original agreement with SII and GOB remains valid until 14 June 2022 and all parties anticipate that SII will be able to re-commence exports to Bangladesh once the temporary export controls from India have been relaxed when, as previously announced, the Company will collaborate with SII to provide a revised supply schedule for GOB.
Further announcements will be made as appropriate.
For further information please visit www.beximcopharma.com or enquire to:
Beximco Pharma |
Nazmul Hassan MP, Managing Director Tel: +880 2 58611001, ext.20080
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S M Rabbur Reza, Chief Operating Officer Tel: +880 2 58611001, ext. 20111
Mohammad Ali Nawaz, Chief Financial Officer Tel: +880 2 58611001, ext.20030
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SPARK Advisory Partners Limited (Nominated Adviser) Mark Brady / Andrew Emmott Tel: +44 (0)20 3368 3551 / 3555
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SP Angel Corporate Finance LLP (Broker) Vadim Alexandre / Abigail Wayne Tel: +44 (0) 20 3470 0470
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FTI Consulting Simon Conway / Victoria Foster Mitchell / Sam Purewal Tel: +44 (0)20 3727 1000
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About Beximco Pharmaceuticals Limited
Beximco 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.