Beximco Pharma enters EU generics market

Bangladesh-based generic drugs and active pharmaceutical ingredients (API) company Beximco Pharmaceuticals (AIM: BXP) says that it has commenced exporting of the company’s products to Europe.

Initially shipments of two ophthalmic products, latanoprost and a combination of latanoprost and timolol, will be exported to Germany and Austria with other European Union countries to follow. Latanoprost and timolol are used to reduce the pressure inside the eye for people with open-angle glaucoma or intraocular hypertension (increased pressure in the eye). The company expects to launch additional new products in the EU later this year.

Beximco managing director Nazmul Hassan commented: “Beximco has established a presence in a growing number of markets around the world. The company is increasingly focused on penetrating large and highly regulated markets such as the EU and USA, where the demand for generic products continues to rise. Beximco has developed high quality pharmaceutical facilities in Bangladesh, with a competitive cost structure for manufacturing and exporting generic drugs. This is a combination that is of increasing importance as governments strive to reduce health care costs without compromising on quality. We look forward to launching further products in Europe, the second largest pharmaceutical market in the world with sales in excess of $265 billion, and providing patients with safe and affordable treatment options."