REG - Beximco Pharmaceut - Update on the supply of COVID-19 vaccine

Beximco PharmaceuticalsAnnouncement

28/04/2021 07:00

RNS Number : 7876W
  
Beximco Pharmaceuticals Ltd
  
28 April 2021
  
 

28 April 2021
 
BEXIMCO PHARMACEUTICALS LTD. 
 
Update on the supply of COVID-19 vaccine 
 
Beximco Pharmaceuticals Limited ("Beximco Pharma" or "the Company"; AIM Symbol: BXP, LEI No.: 213800IMBBD6TIOQGB56), the fast-growing manufacturer of generic pharmaceutical products and active pharmaceutical ingredients, provides the following update on the supply of COVID-19 vaccine in Bangladesh. 
 
As previously announced, Beximco Pharma's agreement with the Government of Bangladesh (GOB) and the Serum Institute of India Private Limited (SII) required SII to deliver a total of 30 million doses to GOB in monthly instalments, with all deliveries to be completed within six months of the vaccine's regulatory approval (which, as announced by GOB, was on 7 January 2021), with Beximco Pharma to receive a separate fee for its role in storage and nationwide distribution of the vaccine. SII has so far delivered seven million doses to GOB.
 
However, following the recent surge in COVID-19 cases in India, the Indian Government has put temporary controls on vaccine exports. As a result, Beximco Pharma anticipates some delays in vaccine supplies as SII will be unable to make its planned monthly deliveries. Beximco Pharma also, therefore, does not anticipate that SII will be able to supply the all of the remaining 23 million doses before the planned date at the end of June 2021. The Company will collaborate with SII to provide a revised supply schedule once the temporary export controls are relaxed. The expected positive impact on the current financial year, as outlined in the announcement on 5 November 2020, may therefore be mitigated.
 
In addition, Beximco Pharma confirms that the previously announced plans to distribute one million doses for the private pay market in Bangladesh are on hold. The Company will review whether to resume these plans once vaccine supplies stabilise.
 
The Company will announce its financial results for the nine-month period ended 31 March 2021 on 30 April 2021.
 
For further information please visit www.beximcopharma.com or enquire to: 
 



Beximco Pharma




Nazmul Hassan MP, Managing Director
Tel: +880 2 58611001, ext.20080
 




S M Rabbur Reza, Chief Operating Officer 
Tel: +880 2 58611001, ext. 20111 
 
Mohammad Ali Nawaz, Chief Financial Officer
Tel: +880 2 58611001, ext.20030
 




SPARK Advisory Partners Limited (Nominated Adviser)
Mark Brady / Andrew Emmott
Tel: +44 (0)20 3368 3551 / 3555
 




SP Angel Corporate Finance LLP (Broker)
Vadim Alexandre / Abigail Wayne
Tel: +44 (0) 20 3470 0470
 




FTI Consulting
Simon Conway / Victoria Foster Mitchell / Sam Purewal
Tel: +44 (0)20 3727 1000
 



 
About Beximco Pharmaceuticals Limited
Beximco Pharma is a leading manufacturer and exporter of medicines based in Bangladesh. Since its inception in 1976, the Company remains committed to health and wellbeing of people across all the continents by providing access to contemporary medicines. Company's broad portfolio of generics encompasses diverse delivery systems such as tablets, capsules, liquids, semi-solids, intravenous fluids, metered dose inhalers, dry powder inhalers, sterile ophthalmic drops, insulins, prefilled syringes, injectables, nebuliser solutions, oral soluble films etc. The Company also undertakes contract manufacturing for multinational and leading global generic pharmaceutical companies.
 
Beximco Pharma′s state-of-the-art manufacturing facilities are certified by global regulatory authorities of USA, Europe, Australia, Canada, GCC and Latin America, among others and it has a geographic footprint in more than 50 countries. More than 5,500 employees are driving the company towards achieving its aspiration to be among the most admired companies in the world.
 
 
  
  

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