Wednesday, May 19, 2021
Thursday, May 6, 2021
Beximco Pharmaceuticals experiences strong growth
Beximco Pharmaceuticals Ltd’s net profit rose 62.38 percent year-on-year in the January-March quarter of 2021. In a stock exchange filing, the company reported that its consolidated earnings per share rose to Tk 3.28 in the third quarter from Tk 2.02 a year earlier. The company attributed part of the profit to the income from vaccine distribution and increased cash incentives from exports.
Beximco Pharma said it delivered five million doses of the Oxford-AstraZeneca vaccine in the third quarter and reported Tk 383.7 million in income from vaccine distribution after deducting related expenses from fees. Beximco Pharma signed a deal with the Serum Institute of India in 2020 to supply 30 million doses of the Oxford-AstraZeneca vaccine to the Bangladesh government.
Beximco Pharmaceuticals announced in January that it would acquire 54.6 percent stake of Sanofi Bangladesh in its bid to further strengthen its position in the drug market.
A recent study by LankaBangla Investment Ltd revealed that local players dominate Bangladesh's pharmaceutical market. The Square Pharmaceuticals holds 17.73% of market share, while Incepta holds 10.21%, Beximco 8.39%, Opsonin 5.54%, Renata 4.97%, Healthcare Pharma 4.57%, ACI 4.43%, Aristo pharma 4.38%, Eskayef 4.36%, and The Acme holds 3.91%.