Beximco Pharmaceuticals Earnings Rise Amid Spate Of Product Launches


-- January 29, 2020

Source: Morningstar

Beximco Pharmaceuticals Ltd on Wednesday reported an earnings rise during a productive first half, which saw the company launch 11 new products in Bangladesh and a 5th one in the US.

Net sales in the six months to Dceember 31 were 13% year-on-year at BDT12.50 billion, about GBP113.2 million, from BDT11.11 billion.

Pretax profit was 17% higher year-on-year at BDT2.27 billion from BDT1.94 billion.

Managing Director Nazmul Hassan said: "Beximco Pharma has delivered further strong growth during the period. In line with our strategy to maintain growth in Bangladesh while expanding our exports business, net sales have continued to grow at double-digit rates, both domestically and abroad."

Beximco said during the half, it completed 23 registrations for 18 products across 14 countries.

The company added that 11 products were launched in Bangladesh, with the Nadadol cardiovascular drug also launching in the US. Nadolol is a generic alternative to Bristol-Myers Squibb Co's Corgard product, used for the treatment of hypertension and angina.

It represents Beximco's fifth product introduced to the US market.

Shares in the company were 0.1% higher at 42.75 pence each in London on Wednesday morning.

By Eric Cunha; ericcunha@alliancenews.com


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Proyash


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  • A specialized institute that works for the holistic development of children with special educational needs through different programs
  • Include early childhood development programs (ECD), special schooling, therapeutic interventions, medical and neuro-developmental assessment, leisure time and co-curricular activities, training for the teachers, parents and integrated services


Other CSR Initiatives


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  • Charity contributions through the Gono Sahajjo Songstha (GSS) for the educational sector for the unprivileged
  • Free drugs during natural calamities and distribution of clothing during winter
  • As part of BEXIMCO Group’s focus on society development, Fazlur Rahman Foundation has established a project called "FRF Diagnostic Centre". The project provides health screening services for Beximco Pharmaceuticals and Beximco Antibiotics Industries employees.
  • Sponsoring events and national sport stars and teams
  • Official sponsor of the Bangladesh National Cricket team for the ICC Cricket World Cup 2011
  • Official sponsor of the FIFA friendly match between Argentina and Nigeria held in September, 2011