Beximco 16% sales rise drives profit up for the half year

Beximco Pharmaceuticals has posted earnings of £1,113,722, for the second half of 2016, compared to £944,662 to the same period last year.

The company’s net sales increased to £40.4m, 16% up, from the same period last year.

Beximco launched Carvedilol in August, and has thus beome the first Bangladeshi pharmaceutical company to export a prescription drug to the United States. Nazmul Hassan MP, Managing Director of Beximco Pharmaceuticals, added that the company has gotten two more US Food and Drug Administration approvals in that period.

Recently, the company has also progressed into the Malaysian market. It has formed a joint venture (JV) with a Malaysia-based BioCare Manufacturing, helped by the country’s Economic Transformation Program.

“We continued to perform well in the domestic market, posting a sales growth of 14.4% over the corresponding period in 2015. We are confident that we will be able to maintain our growth momentum by achieving our operational and financial targets for the full year,” said Hassan.