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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