Health Desk--- June 19, 2016: Beximco has notched up another milestone by becoming the first Bangladeshi pharma company to launch pharmaceutical products in any Gulf member country by starting to export to Kuwait.
The manufacturer of generic pharmaceutical products and active pharmaceutical ingredients has started exporting to the country under the Cooperation Council for the Arab States of the Gulf (GCC) economic union.
A launch ceremony was held at Beximco Pharma’s factory in Dhaka to mark the shipment of the first consignment in the presence of the Ambassador of Kuwait, Adel Mohammad Hayat.
These initial exports include two metered-dose inhaler products for asthma and other respiratory conditions, namely Azmasol (salbutamol), Bexitrol-F (salmeterol plus fluticasone) and the blood pressure drug Amdocal (amlodipine). The company expects to launch additional products in Kuwait later this year.
With the combined Gulf market estimated to be worth $9 billion and Kuwait alone around $1.5 billion, the region represents a considerable opportunity for pharma companies.
Managing director of Beximco, Nazmul Hassan, said: “Beximco continues to build its presence in emerging and developed markets. The company is increasingly focused on regulated markets, such as the USA, European Union, GCC and Australia, where the demand for generic pharmaceutical products is rising. The Gulf market is an important market for us and the launch of our products in Kuwait will open up new opportunities in the region. We will continue to expand our product range in the Gulf market, providing patients with safe and affordable treatment options.”
By becoming the first Bangladeshi pharma company to export there, Beximco achieved its latest milestone, having been the first from the country to receive US Food and Drug Administration approval for a prescription drug manufactured in the country for export to the USA in November 2015, for its blood pressure treatment carvedilol.
The company is the largest exporter of pharmaceuticals in Bangladesh and currently has a global footprint in more than 50 countries.