Beximco Pharmaceuticals Ltd.
13th October 2008
Beximco Pharma is first pharmaceutical company from Bangladesh to enter Latin America
Beximco 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 arket updated.”
Notes to Editors
About Beximco Pharmaceuticals Limited
Founded in 1976 and based in Dhaka, Bangladesh, BPL manufactures and sells generic pharmaceutical formulation products, active pharmaceutical ingredients and intravenous fluids. The Company also manufactures and markets its own branded generics for almost all diseases. The Company also undertakes contract manufacturing for multinational pharmaceutical companies. The Company operates from a 20 acre site in Dhaka and currently employs over 2,400 staff.
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 East Africa, Pacific Island and Central American countries and South East Asia, including Singapore and Hong Kong.