19th Nov 2015 09:02
LONDON (Alliance News) - Beximco Pharmaceuticals Ltd said Thursday it has received US Food and Drug Administration approval for the manufacture and export of blood pressure drug Carvedilol.
It expects to begin exporting the Carvedilol in the first half of 2016, with full-year export revenue from the product expended to be in the region of USD3-4 million initially.
"This is a major milestone for the company, and the whole Bangladesh pharmaceutical industry, as it is the first time the US FDA has approved a prescription drug to be manufactured in Bangladesh for supply into the US market. We are increasingly focused on building our presence in the US generics market and this approval marks the beginning of a new era for the company," said Managing Director Nazmul Hassan in a statement.
Shares in Beximco were up 6.3% at 21.00 pence Thursday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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