REG - Beximco Pharmaceut - Beximco and SII to cooperate on a COVID-19 vaccine

Beximco PharmaceuticalsAnnouncement

28/08/2020 08:35

RNS Number : 4502X
  
Beximco Pharmaceuticals Ltd
  
28 August 2020
  
 

 
28 August 2020
 
BEXIMCO PHARMACEUTICALS LTD.
 
 
Beximco Pharma and Serum Institute of India announce intention to cooperate on a COVID-19 vaccine
 
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, and the Serum Institute of India Pvt. Ltd (SII), the world's largest vaccine producer, today announce an agreement in principle for a cooperation and distribution agreement to develop a COVID-19 vaccine, for which Beximco will be the exclusive supplier in Bangladesh.
 
SII has partnered with AstraZeneca, the Gates Foundation and Gavi, to produce more than a billion doses of a vaccine for global supply. Under the terms of the planned arrangement, Beximco will make a financial contribution to advance the development of the vaccine which will be adjusted based on the vaccine price. SII will  prioritise Bangladesh to be one of the first countries to receive an agreed quantity of doses once the vaccine receives all necessary regulatory approvals. Beximco will be the exclusive supplier of the vaccine in Bangladesh and will facilitate the needs of the Government of Bangladesh by offering the opportunity for it to reserve the desired quantities for priority supply at prices to be agreed between the Government and SII.  The Company will secure additional quantities of the vaccine to be  distributed to the private pay market in Bangladesh. The complexity of the market and production means that any financial implications of this arrangement are difficult to forecast at the current time so the Company will provide the market with any further meaningful updates in due course. The number of doses to be provided to Bangladesh on a priority basis and BPL's investment amount will be dependent on regulatory approvals, SII's production capacity and earlier commitments to other countries.
 
Mr Adar C Poonawalla, Chief Executive Officer of Serum Institute of India and Shayan F Rahman, Principal of Beximco Pharmaceuticals jointly commented:
 
"We are excited to bring together two of the leading pharma companies in India and Bangladesh with the scale and capabilities to bring a hugely promising treatment to the people who need it the most. Between us, we can go a long way towards helping to mitigate the health crisis caused by the COVID-19 pandemic."
 
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 
 
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
Tel: +44 (0)20 3727 1000
 
 
Notes to Editors
 
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 4,200 employees are driving the company towards achieving its aspiration to be among the most admired companies in the world.  
 
 
 

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