REG - Beximco Pharmaceut - Launch of world’s first generic molnupiravir

Beximco PharmaceuticalsAnnouncement

09/11/2021 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20211109:nRSI7743Ra&default-theme=true

RNS Number : 7743R  Beximco Pharmaceuticals Ltd  09 November 2021

 

9 November 2021

 

BEXIMCO PHARMACEUTICALS LTD.

 

Beximco Pharma introduces world's first generic molnupiravir, an oral
antiviral drug for COVID-19 treatment

 

Availability of generic molnupiravir will help broaden access and
affordability of COVID-19 treatment

 

Beximco Pharmaceuticals Limited ("Beximco Pharma", "BPL" or "the Company"),
the fast-growing manufacturer of generic pharmaceutical products and active
pharmaceutical ingredients, today announces the launch of the world's first
generic molnupiravir, an oral antiviral drug for symptomatic COVID-19 recently
developed by Merck, Sharp & Dohme (MSD) and Ridgeback Biotherapeutics,
following Emergency Use Authorisation by the Directorate General of Drug
Administration (DGDA), the regulatory authority in Bangladesh. Beximco
Pharma's branded generic version of molnupiravir will be marketed as Emorivir.

 

Molnupiravir is the world's first oral product to treat symptomatic COVID-19,
which was approved by the UK's Medicines and Healthcare products Regulatory
Agency on 4 November 2021. Molnupiravir is currently under review by several
other regulatory authorities, including the European Medicines Agency and the
United States Food and Drug Administration.

 

As an oral treatment that can be administered at home, molnupiravir has the
potential to have a significant impact on the treatment paradigm for COVID-19.
For instance, it may reduce the need for infected patients to visit medical
facilities, therefore also reducing the risk of infecting others. Data
published by MSD suggest that it may cut the risk of hospitalisation and death
by half, with 7.3% of molnupiravir patients hospitalised after 29 days
compared to 14.1% of patients who were treated with placebo. Molnupiravir
works by interfering with the replication of virus. This prevents it from
multiplying, keeping virus levels low in the body and therefore reducing the
severity of the disease.

 

With the launch of a branded generic version, Beximco Pharma is helping to
broaden access and  reduce cost of this potentially life-saving treatment
option, which could bring significant benefit to unvaccinated or
immunosuppressed patients. Emorivir will initially be launched in Bangladesh
with scope for future exports depending on drug regulatory approvals from
importing countries. Given the changing nature of the pandemic, it is unclear
what impact the launch of Emorivir will have on sales but based on current
infection rates in Bangladesh, the Company does not expect a material impact
on full-year revenues.

 

Mr. Nazmul Hassan MP, Managing Director of Beximco Pharmaceuticals,
commented:

"Further to our launch of the first generic remdesivir at the start of the
pandemic, the launch of a generic version of molnupiravir, the world's first
oral antiviral drug to treat COVID-19, is another example of Beximco Pharma's
ability to rapidly respond to make affordable treatments available to patients
suffering from COVID-19. This is a great achievement for the Company and one
which we believe could play an important role in combating the pandemic,
especially in low- and middle-income countries where access to vaccines has
been limited."

 

For further information please visit www.beximcopharma.com
(http://www.beximcopharma.com) or enquire to:

Beximco Pharma

 

Nazmul Hassan MP, Managing Director

Tel: +880 2 58611001, Ext.20080

 

Mohammed Ali Nawaz, Chief Financial Officer

Tel: +880 2 58611001, Ext.20030

 

Jamal Ahmed Choudhury, Director, Accounts & Finance

Tel: +880 2 58611001, Ext.20022

 

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 5500 employees are driving the company towards achieving
its aspiration to be among the most admired companies in the world.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCDKCBQABDKKDK