7 November 2024
This announcement contains
inside information as stipulated under the UK version of the Market
Abuse Regulation 596/2014 which is part of English Law by virtue of
the European (Withdrawal) Act 2018, as amended. On publication of
this announcement via a regulatory information service, this
information is considered to be in the public
domain.
BEXIMCO PHARMACEUTICALS
LIMITED.
Results for the year ended 30
June 2024
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, today announces its audited results for the year ended
30 June 2024.
Financial Highlights (consolidated)
· Net
sales increased 13.1% to Bangladesh Taka ("BDT") 44,391.6m /
£286.6m (2022-23: BDT 39,266.7m / £288.6m)
o Domestic sales increased 13.5% to BDT 41,433.3m / £267.5m
(2022-23: BDT 36,503.4m / £268.3m)
o Export sales increased 7.1% to BDT 2,958.4m / £19.1m (2022-23:
BDT 2,763.2m / £20.3m)
· Profit
after tax increased 29.7% to BDT 5,866.8m / £37.9m (2022-23: BDT
4,524.5m / £33.3m)
· EPS for
the year amounted to BDT 13.07 (2022-23: BDT 10.34)
· Recommended 40% cash dividend (BDT 4.00 per share)
Operational Highlights
· Launched 30 new products in Bangladesh market
· Completed 37 new registrations of 31 products across 11
countries
· Received two product approvals from the US FDA
o Hydroxyzine Pamoate capsule (an antihistamine drug), and
Carbidopa tablet (a medication for the treatment of Parkinson's
disease)
· Obtained approvals from the Therapeutic Goods Administration
(TGA), Australia for two products
o Mometasone nasal spray (a corticosteroid), and Hyoscine
Butylbromide tablet (an antispasmodic drug)
· Launched Flecainide tablets (50 mg, 100 mg, and 150 mg) and
Nebivolol tablets (2.5 mg, 5 mg, 10 mg, and 20 mg) in the
US
· Launched Ketorolac 10 mg tablet - the 3rd oral solid dose
(OSD) product in the Canadian market
· Won
Bangladesh's National Export Trophy (Gold) for a record ninth
time
Post
Period Activity
· Launched
three new products in the domestic market
· Completed 18 new product registrations across five
countries
Beximco Pharma Managing Director Iqbal Ahmed
commented:
"We have again delivered a strong set
of results, including double digit revenue growth and a 40% cash
dividend for shareholders. Our performance this year underscores
the durability of the business despite challenging macroeconomic
factors. Following the appointment of an interim government in
Bangladesh, the political situation in the country has
significantly stabilised and, while rising
inflation, increased interest rates, slower economic growth and
overall financial sector vulnerability pose challenges, we
remain committed to delivering high-quality,
affordable healthcare solutions. I firmly believe the Company is
well prepared to navigate these challenges in order to deliver
value for shareholders and provide essential medicines for
patients."
Exchange rates of £1 = Taka 136.05
for 2022-23 numbers and £1 = Taka 154.90 for 2023-24 numbers have
been used in this announcement.
This announcement is available in
its entirety at http://www.rns-pdf.londonstockexchange.com/rns/2426L_1-2024-11-6.pdf.
For
further information please visit www.beximcopharma.com or enquire
to:
S M Rabbur Reza, Chief Operating
Officer
Tel: +880 2 58611001, Ext.20111
Mohammad Ali Nawaz, Chief Financial
Officer
Tel: +880 2 58611001,
Ext.20030
SPARK Advisory Partners Limited (Nominated Adviser)
Mark Brady / Andrew
Emmott
Tel: +44 (0) 20 3368 3551 /
3555
SP
Angel Corporate Finance LLP (Broker)
Matthew Johnson
Tel: +44 (0) 20 3470 0470
FTI
Consulting
Simon Conway / Victoria Foster
Mitchell/ Sam Purewal
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 5700 employees are driving the company
towards achieving its aspiration to be among the most admired
companies in the world.
