Beximco Pharma enters US manufacturing, supply and product development agreement with Adamis

Beximco Pharmaceuticals (AIM: BXP), a Bangladesh-based manufacturer and seller of generic pharmaceutical formulation products, has signed a strategic manufacturing, supply, and product development agreement with USA-based Adamis Pharmaceuticals (OTCBB: ADMP).

Although not expected to have a material impact on short-term revenue or profits, under the agreement, Adamis and Beximco plan to introduce four generic respiratory drug formulations onto the US market over the next three years. The two companies will co-develop certain generic formulations, some of which Beximco currently produces for the European market. Adamis will be responsible for Food and Drug Administration regulatory approval and marketing in the USA.

Nazmul Hassan, managing director of Beximco, commented: "This is another achievement for the company and highlights our significant generic drug capabilities as we move closer towards becoming a global generic drug player, particularly in the most advanced markets in the USA and Europe. We look forward to working closely with Adamis to capitalize on the generic drug opportunities in the US market, and achieving sustainable growth through creating long-term shareholder value."