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Beximco Pharmaceuticals Ltd Plans to Further Expand in Global Markets



Committed to being a leading manufacturer of medicine or drugs, Beximco Pharmaceuticals Ltd. aims to broaden its operations. Globally, it has been accredited by various regulatory bodies based in Canada, the European Union (EU), the United States, Brazil, and Canada. The leader in the private sector in Bangladesh is well-regarded in these international markets. Further, it plans to expand its functioning in the Middle East. This division of the Bangladeshi conglomerate, BEXIMCO Group, has initiated the start of the same. Its facilities and sources will enable it to succeed in expanding to new global markets. Moreover, new products and enhancements to the existing ones will benefit consumers.

Expansion in Saudi Arabia

Many industry experts and business consultants consider BEXIMCO Group as the leader in the private sector of Bangladesh. Beximco Pharmaceuticals Ltd. is the leading company in Bangladesh for the manufacture of generic drugs. To retain its strong position, it expanded not only within but beyond the country as well. In Saudi Arabia, in particular, it has set up a factory for further operations.

●     Marking its global footprint, this factory has been formed under a JV or joint venture.

●     Through this, it will ensure both technical assistance and human capital.

●     Moreover, this facility will be capable of producing nearly 30 types of medicine.

●     The availability of these drugs will benefit in better care of existing and new symptoms/diseases.

●     By 2024, the factory's functioning can begin.

Drug Exports in 60+ Destinations

In Bangladesh, Beximco Pharmaceuticals Ltd. is a major exporter and the leader in the private sector. It exports drugs to as many as 68 locations. They comprise important European and US-based markets. Its operations form around 20.3% of the overall exports of pharma products from the financial years 2018 to 2019 and 2022 to 2023.

●     More than 30 new registrations for around 19 generic drugs were received by this company.

●     These registrations were observed across 17 nations.

●     It received approval for around 7 drugs from the:

○     U.S. Food and Drug Administration (FDA),

○     Health Canada,

○     And, the Therapeutic Goods Administration or TGA Australia

Producer of Active Pharmaceutical Ingredients

Presently, the pharmaceutical division of the Bangladeshi conglomerate produces APIs for some anti-bacterial and anti-inflammatory drugs. In addition, these are produced for certain anti-coagulants, anti-anginal medicine, and dipeptidyl peptidase-4 inhibitors. For the necessary imports, it counts on India and China. These are used for the production of other drugs.

Beximco Pharma’s Potential for Extensive Functioning

The abilities of Beximco Pharmaceuticals Ltd. to extend its operations are notable. EBL Securities Limited is one of the bodies that believes in the same. This pharma division can expectedly generate sufficient revenue via contract manufacturing.

● Also, as of now, the company is engaged in contract manufacturing with GSK or GlaxoSmithKline.

●     As part of this agreement, it is focused on the production of Metered Dose Inhalers.

●     When the financial year 2017-2018 began, the revenue from contract manufacturing grew.

●     The CAGR or compound annual growth rate has been nearly 136.6% from Tk 23 lakh to around Tk 6.93 crore by the financial year 2023.

A Major Producer of Generic Drugs

Beximco Pharma, the leader in the private sector in Bangladesh, produces around 300 generic drugs. They are available in various presentations, with the number being equivalent to 500. 

These are inclusive of the major therapeutic classes, for example:

  • Gastrointestinal
  • Antibiotics
  • Central nervous system
  • Anti-diabetic
  • Analgesics
  • Respiratory
  • Cardiovascular

Facilities and Sources of BEXIMCO for Widespread Operations

The manufacturing facility or site of Beximco Pharmaceuticals Ltd. is as big as 23 acres and is supportive of broad operations. To manufacture drugs in numerous locations, this site in Gazipur's Tongi is significant.

In addition, the company has a team employing 4,700 individuals approximately. This huge workforce enables the production of pharma capsules, tablets, ointments, creams, inhalers, suppositories, syringes, and ophthalmic drops.

The availability of both sources has led the pharma division to expand its functioning. Thus, it is recognized as a big name in the sector at domestic and international levels.

Conclusion

Globally, Beximco Pharma is a well-known manufacturer of medicine/drugs. With extensive functioning, the leader in the private sector of Bangladesh tends to further expand in the international markets. Hence, beyond Australia, Europe, and the USA, it is expected to have a solid presence in Saudi Arabia as well.


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