Beximco Pharma to join hand with overseas cos
Saturday, 15 May 2010
FE Report
The country's leading drug makers 'Beximco Pharmaceuticals Ltd' has initiated talks with major overseas pharmaceutical companies, aiming to sign manufacturing agreement under contract at it's facility in Bangladesh, company official said in an interview with Dow Jones Newswires recently.
The private pharmaceutical conglomerate has held talks with companies including, Novartis AG and Watson Pharmaceuticals Inc. for manufacturing medicines under license for sale in developing markets and possibly in the West, Managing Director Nazmul Hassan said in the interview.
The company already makes some big drug makers' products under license, like GlaxoSmithKline's asthma medicine Ventolin.
Mr Hassan in his interview said Bangladesh is one of the cheapest places to manufacture drugs in the world because white collar staff like pharmacists and engineers are paid less than those in rival countries like India or China. Electricity is also cheaper, he added.
Beximco's facilities in Bangladesh has successfully passed inspections by Australian, Middle Eastern and Brazilian authorities and the company is applying to have them approved by the U.S. Food and Drug Administration and the U.K.'s Medicines and Healthcare Products Regulatory Agency.
South African approval is expected shortly, company source said adding that such approvals would firm up its facilities' credentials and help it win manufacturing business.
Beximco Pharma (BPL) is a leading manufacturer of pharmaceutical formulations and Active Pharmaceutical Ingredients (APIs) in Bangladesh. The company is the largest exporter of pharmaceuticals in the country and its state-of-the-art manufacturing facilities are certified by global regulatory bodies of Australia, Gulf nations, Brazil, among others.
The company is currently producing more than 400 products in different dosage forms covering broader therapeutic categories which include antibiotics, antihypertensives, antidiabetes, antiretrovirals, anti asthma inhalers etc, among many others.
Beximco's main business is selling branded generic medicines in Bangladesh and other developing countries, where it competes with Indian rivals and big generic companies like Teva Pharmaceutical Industries Ltd.
Beximco reported a 21 per cent year-on-year rise in revenue in 2009 to Tk4.87 billion, driven largely by exports and new products. It registered 51 generic medicines in 12 countries, and introduced 26 new drugs to its portfolio of more than 400.
The country's leading drug makers 'Beximco Pharmaceuticals Ltd' has initiated talks with major overseas pharmaceutical companies, aiming to sign manufacturing agreement under contract at it's facility in Bangladesh, company official said in an interview with Dow Jones Newswires recently.
The private pharmaceutical conglomerate has held talks with companies including, Novartis AG and Watson Pharmaceuticals Inc. for manufacturing medicines under license for sale in developing markets and possibly in the West, Managing Director Nazmul Hassan said in the interview.
The company already makes some big drug makers' products under license, like GlaxoSmithKline's asthma medicine Ventolin.
Mr Hassan in his interview said Bangladesh is one of the cheapest places to manufacture drugs in the world because white collar staff like pharmacists and engineers are paid less than those in rival countries like India or China. Electricity is also cheaper, he added.
Beximco's facilities in Bangladesh has successfully passed inspections by Australian, Middle Eastern and Brazilian authorities and the company is applying to have them approved by the U.S. Food and Drug Administration and the U.K.'s Medicines and Healthcare Products Regulatory Agency.
South African approval is expected shortly, company source said adding that such approvals would firm up its facilities' credentials and help it win manufacturing business.
Beximco Pharma (BPL) is a leading manufacturer of pharmaceutical formulations and Active Pharmaceutical Ingredients (APIs) in Bangladesh. The company is the largest exporter of pharmaceuticals in the country and its state-of-the-art manufacturing facilities are certified by global regulatory bodies of Australia, Gulf nations, Brazil, among others.
The company is currently producing more than 400 products in different dosage forms covering broader therapeutic categories which include antibiotics, antihypertensives, antidiabetes, antiretrovirals, anti asthma inhalers etc, among many others.
Beximco's main business is selling branded generic medicines in Bangladesh and other developing countries, where it competes with Indian rivals and big generic companies like Teva Pharmaceutical Industries Ltd.
Beximco reported a 21 per cent year-on-year rise in revenue in 2009 to Tk4.87 billion, driven largely by exports and new products. It registered 51 generic medicines in 12 countries, and introduced 26 new drugs to its portfolio of more than 400.