Beximco sales grow in first half

Generic pharmaceutical products and active ingredients manufacturer Beximco Pharmaceuticals posted audited results for the half year to 30 June on Thursday, with net sales growing by 13.1% to BDT 7.07bn.

The AIM-traded firm’s export sales grew by 5.3%, and domestic market sales increased by 13.6% over the first half of 2015.

Profit before tax stood at BDT 1.32bn, a rise of 20.8% over the prior corresponding period.

Earnings per share for the period amounted to BDT 2.57.

“The past 18 month period has been remarkable for Beximco Pharma,” said managing director Nazmul Hassan.

“In addition to reporting excellent sales growth in both our domestic and export markets, we achieved a major milestone by becoming the first Bangladeshi pharmaceutical company to be approved by the US FDA.”

Hassan said the company subsequently received approval to manufacture Carvedilol, a prescription drug for treating hypertension, for the US.

Export of Carvedilol began in August 2016.

“We have a clear growth strategy to bring high quality, differentiated products to emerging and developed markets to create value for all our customers and shareholders and I firmly believe our commitment to quality and focus on people, product and process will propel us forward on our journey,” Hassan explained.