BEXIMCO PHARMACEUTICALS LIMITED Half Year Results 2022-23
pharmafile | January 30, 2023 | News story | Business Services |
Beximco Pharmaceuticals Limited (“Beximco Pharma”, “BPL” or “the Company”; AIM Symbol: BXP, LEI No.: 213800IMBBD6TIOQGB56), the fast-growing manufacturer of generic pharmaceutical products and active pharmaceutical ingredients, today announces its unaudited financial results for the six months ended 31 December 2022.
Financial highlights
Half year financial highlights
- Net sales increased 16.0% to Bangladesh Taka (“BDT”) 19,678.7m / £ 164.4m (2021-22: BDT 16,968.9m/ £146.7m)
- Domestic sales increased 17.1% to BDT 18,370.9m / £153.4m (2021-22: BDT 15,692.9m / £135.6m)
- Export sales increased 2.5% to BDT 1,307.8m / £10.9m (2021-22: BDT 1,276.0m / £11.0m)
- Profit after tax decreased 15.1% to BDT 2,658.1m / £22.2m (2021-22: BDT 3,131.9m / £27.1m)
Second quarter financial highlights
- Net sales increased 16.4% to BDT 9,891.5m / £82.6m (2021-22: BDT 8,499.6m / £73.5m)
- Profit after tax decreased 24.8% to BDT 1,245.4m / £10.4m (2021-22: BDT 1,656.3m / £14.3m)
Operational highlights
- Domestic market
- Launched seven new products (eleven presentation forms and strengths), including Mulina (Lefamulin), an anti-infective drug for the first time in Bangladesh
- Continued progress in the integration of Synovia Pharma
- Continued successful product transfer to the new facility [Unit III]
- Won the Prestigious National Export Trophy (Gold) 2018-19 for the sixth time
- International market
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- Received a total of twelve new registrations of Seven generics (eight presentations) in seven countries including Oman, Maldives, Singapore, South Africa, Namibia and Ethiopia
- Received US FDA approval for Antimigraine drug, Eletriptan tablets and Anticholinergic drug Oxybutynin tablets
- Won Global Generics & Biosimilars Awards 2022 in the category of “Acquisition of the year” for the acquisition of Sanofi Bangladesh (now Synovia Pharma)
Nazmul Hassan MP, Managing Director of Beximco Pharmaceuticals, commented:
“We are pleased to report the financial and operational progress made over the first half of the year. While we have continued to see macroeconomic headwinds impact our bottom line, another period of double-digit revenue growth is testament to the underlying progress of the business. We have launched seven new products in Bangladesh and received a further 12 new registrations internationally. We remain focused on our commitment to delivering high-quality, affordable medicines and look forward to continuing our progress into the second half of the year.”
The half yearly accounts can be viewed at the Company’s website: www.beximcopharma.com
(Exchange rates of £1 = Taka 119.7199 for 31 December 2022 numbers and £1 = 115.7099 for 31 December 2021 have been used in this announcement.)
