Beximco Pharmaceuticals Ltd Commences Export to Canada (9202Q)
September 18 2017 - 2:00AM
UK Regulatory
TIDMBXP
RNS Number : 9202Q
Beximco Pharmaceuticals Ltd
18 September 2017
18 September 2017
BEXIMCO PHARMACEUTICALS LTD.
Beximco Pharma commences export to Canada
First Bangladeshi pharmaceutical company to launch
pharmaceutical products in Canada
Beximco Pharmaceuticals Limited ("BPL", "Beximco Pharma" or
"Company"; AIM Symbol: BXP), the fast-growing manufacturer of
generic pharmaceutical products and active pharmaceutical
ingredients, today announces it has commenced the export of
Olopatadine, an ophthalmic product for treating the symptoms of eye
allergy, to Canada. This follows the approval of Olopatadine (0.1%
solution) by Health Canada in October 2016 and is the first time a
pharmaceutical product from Bangladesh has been launched in this
North American country.
According to IMS data, the current market size for Olopatadine
eye drops (including all strengths) in Canada is $14 million. The
first consignment was delivered on 16 September 2017 and the
product will be distributed through the Company's existing partner
in Canada. Beximco Pharma's second prescription product for the
Canadian market is currently under evaluation by Health Canada,
with approval expected by the first quarter of 2018. There are also
a number of products in the R&D pipeline which the Company
expects to file in Canada.
Beximco Pharma Managing Director, Mr Nazmul Hassan MP,
commented:
"Entry into the Canadian pharmaceutical market, following the
successful launch of our first product in the US last year, is a
significant step forward in strengthening our presence in North
America. This is the first time a pharmaceutical product
manufactured in Bangladesh, notably a sterile ophthalmic product,
has been exported to Canada. The launch of our second product in
North America is another validation of our strength in offering
specialised generic products in a global setting. We continue to
focus on building a strong pipeline for prescription markets."
Beximco Pharma's ophthalmic unit is the only such facility in
Bangladesh to be approved by the regulatory authorities of Europe,
Australia and Canada. The Company has developed a global footprint,
with sales to more than 50 countries.
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 / Sean Wyndham-Quin
Tel: +44 (0)20 3368 3551 / 3555
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 3,500 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, 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 the US.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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