29th Jun 2007 07:03
Beximco Pharmaceuticals Ltd29 June 2007 Beximco Pharmaceuticals Limited Results for the year ended 31 December 2006 29 June 2007 - Beximco Pharmaceuticals Limited (AIM Symbol: BXP), the leadingpharmaceutical manufacturer and the largest pharmaceutical exporter ofBangladesh, today announces its preliminary results for the year ended 31December 2006. Highlights Products • Introduced Oseflu(R) (Oseltamivir) to the Bangladesh market which aims to combat the growing threat of Bird Flu. The company also delivered the Oseflu capsule to the Bangladesh Government and exported it to Myanmar • Introduced 3 environment-friendly non-CFC HFA Metered Dose Inhalers (MDIs) for the first time in Bangladesh • Launched 58 new products including dosage forms across a wide range of therapeutic classes • Entered 3 new overseas markets, namely Sri Lanka, Somalia and Bhutan • Registered 36 new products including dosage forms in Kenya, Myanmar, Sri Lanka, Nepal and Cambodia • Signed agreement with distributors in Saudi Arabia, Philippine, Ethiopia, Somalia & Bhutan Corporate • Successfully completed USFDA standard new Oral Solid Dosage (OSD) plant • Successfully relocated/outsourced penicillin and cephalosporin manufacturing facilities to better comply with cGMP guidelines Financial Highlights • Net Sales increased by 11.3% to Tk.3,702.3m (2005: Tk. 3,327.0m) • Profit before tax increased by 7.8% to Tk. 523.2m • 5% Cash and 10% Stock Dividend declared with record date on August 1, 2007 Post year end highlights • Launched country's first HFA Glyceryl Trinitrate (GTN) aerosol spray for angina patients • Launched 11 new products up to June 2007 • Entered 4 new overseas markets, namely Ghana, Botswana, Belize, Papua New Guinea • Registered 79 new products in Hong Kong, Bhutan, Myanmar, Sri Lanka, Cambodia • Signed agreement with distributors in 10 new countries of GCC, Latin America, Asia and Africa Nazmul Hassan, Chief Executive Officer of Beximco, said: "We have made significant progress this year both in entering new geographiesand also introducing new products to the market. Our sales have increased 11% onlast year and we are confident that we can build on this growth and continue toexport our expanding product portfolio into new domestic and internationalmarkets." The AGM will be held on 2 September 2007 at 10.30 a.m. at 1 Shahbagh C/A, Dhaka,Bangladesh The full audited accounts are available from the Company's website:www.beximco-pharma.com For further enquiries please contact: Beximco Pharma Tel: +880 2 861 9151, ext.2080Nazmul Hassan, CEO Libertas Capital Tel: +44 (0)20 7569 9650Aamir Quraishi/Andrew Hardy Financial Dynamics Tel: +44 (0)20 7269 7169David Yates/John Gilbert About Beximco Pharmaceuticals Limited Founded in 1976 and based in Dhaka, Bangladesh, BPL manufactures and sellsgeneric pharmaceutical formulation products, active pharmaceutical ingredientsand intravenous fluids. The Company also manufactures and markets its ownbranded generics for almost all diseases. The Company also undertakes contractmanufacturing for multinational pharmaceutical companies. The Company operatesfrom a 20 acre site in Dhaka and currently employs over 2,300 staff. The Company's products are sold to retail outlets, medical institutions andother pharmaceutical manufacturers in Bangladesh, in regional markets such asPakistan, Nepal, Bhutan and Myanmar and in other markets overseas, principallyin East Africa and South East Asia, including Singapore. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Beximco Pharma