BRIEF—Bristol-Myers Squibb facing competition from Bangladeshi generics in US

Beximco Pharmaceuticals, a Bangladeshi company with a focus on generic medicines, has announced the launch of its Glucophage (metformin hydrochloride) equivalent in the USA.

According to IQVIA market data, the US market for Metformin Hydrochloride is currently valued at USD 456.08 million. Glucophage is marketed in the USA by Bristol-Myers Squibb.

This is the Beximco’s fourth product to be exported to the USA, following equivalents of Coreg (carvedilol), Betapace (sotalol) and Robaxin (methocarbamol).

“The export of our fourth product to the USA is another validation of our growing presence and strength in offering specialized generic products in the world’s largest pharmaceutical market,” said Nazmul Hassan, managing director of Beximco Pharmaceuticals.

“We look forward to exporting additional, high quality, differentiated products to the USA and other key global markets in the future.”

In 2015, Beximco became the first ever Bangladeshi pharma company to export products to the US market.