Beximco Pharmaceuticals Ltd Commences Export of Third Product to the US Market (6153L)
23 April 2018 - 4:00PM
UK Regulatory
TIDMBXP
RNS Number : 6153L
Beximco Pharmaceuticals Ltd
23 April 2018
23 April 2018
BEXIMCO PHARMACEUTICALS LTD.
Beximco Pharma commences export of third product to the US
market
Beximco Pharmaceuticals Limited ("BPL", "Beximco Pharma" or
"Company"; AIM Symbol: BXP), the fast-growing manufacturer of
generic pharmaceutical products and active pharmaceutical
ingredients, announces today it has commenced the export of
Methocarbamol tablets (500mg and 700mg) to the US market. This
product is a generic equivalent to Auxilium Pharmaceuticals' muscle
relaxant Robaxin tablets, which is for pain relief associated with
acute musculoskeletal conditions. The first consignment was
delivered on 21 April 2018.
The export of Methocarbamol tablets marks the third product to
be exported by Beximco Pharma to the US, following the successful
launch of Carvedilol and Sotalol in August 2016 and November 2017,
respectively. According to IQVIA market data, the US market for
Methocarbamol is currently valued at USD 23.37 million.
Mr. Nazmul Hassan MP, Managing Director of Beximco
Pharmaceuticals, commented:
"The export of our third product to the US further builds our
presence in the world's largest pharmaceutical market. We continue
to focus on growing our portfolio in the US, which we believe will
be a major export market for Beximco Pharma in the coming years. We
remain focused on our strategic goal to bring high quality,
differentiated products to both developed and key emerging markets
to create value for our customers and shareholders."
Beximco Pharma remains the only Bangladeshi pharmaceutical
company to export medicine to the US market following its
manufacturing site approval by the US Food and Drug Administration
in June 2015.
Beximco Pharma is a leading exporter of pharmaceuticals in
Bangladesh. The Company currently has a global footprint in more
than 50 countries and has been accredited by the leading global
regulatory authorities namely US FDA, AGES (EU), TGA (Australia),
Health Canada, GCC (Gulf) and TFDA (Taiwan).
For further information please visit www.beximcopharma.com or
enquire to:
Beximco Pharma
Nazmul Hassan MP, Managing Director
Tel: +880 2 58611001, ext.20080
SPARK Advisory Partners Limited (Nominated Adviser)
Mark Brady / Andrew Emmott
Tel: +44 (0)20 3368 3551 / 3555
Northland Capital Partners Limited (Broker)
Tom Price
Tel: +44 (0)20 3861 6625
FTI Consulting
Simon Conway / Victoria Foster Mitchell
Tel: +44 (0)20 3727 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, nebuliser solutions, oral soluble films etc. Ensuring
access to quality medicines is the powerful aspiration that
motivates 3,800 employees of the Company.
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. 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 South East
Asia, including Singapore, Thailand, Taiwan, Malaysia, Indonesia,
Philippines and Hong Kong; Africa, including South Africa,
Mauritius, Kenya, Ghana, Ethiopia, Uganda and Nigeria; Central
Asia, including Azerbaijan; Middle East, including Kuwait and
Jordan; Pacific Island countries; Latin and Central American
countries; Europe, including Austria, Germany and Romania;
Australia and North America, including the USA and Canada.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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