Beximco Pharma is first pharmaceutical company from Bangladesh to enter Latin America
Pharmaceuticals Ltd. (“BPL” or the “Company”), the leading edge pharmaceutical manufacturer and the largest pharmaceutical exporter of Bangladesh has commenced exports to Chile, after receiving marketing authorization for a number of products from “Instituto de Salud Publica de Chile” (Drug Regulatory authority in Chile). With this, BPL has become the first Bangladeshi pharmaceutical company to obtain product registration in any Latin American country, a company statement said today.
Chile is one of the Latin America’s better economic performers and is the sixth largest pharmaceutical market in the region. In 2007 Chilean pharmaceutical market was valued at US 1.5 billion dollar. The market is presently dominated by global brands of reputed MNCs as well as strong generics from domestic pharmaceutical companies.
Beximco Pharma CEO Mr. Nazmul Hassan said: “This event marks another milestone in the Company’s plan to become a global pharmaceutical company. With a market size of around US 40 Billion dollar and with a high growth rate, Latin America is considered as one of the biggest pharma markets and it is strategically important for us in our global expansion program. I hope being successful in registering our products in Chile will mark our presence in the region. The Company continuing to seek similar opportunities and is actively working in other Latin American countries, and will keep the market updated.”