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 LTD.
4 February 2021
Update on the supply of COVID-19 vaccine
Beximco Pharmaceuticals Limited (“Beximco Pharma” or “the Company”; AIM Symbol: BXP, LEI No.: 213800IMBBD6TIOQGB56), the fast-growing manufacturer of generic pharmaceutical products and active pharmaceutical ingredients, provides the following update in relation to the delivery and supply of the Oxford University/AstraZeneca SARS-CoV-2 vaccine, AZD1222 (“the Vaccine”) in Bangladesh for both the Government of Bangladesh′s (“GOB”) mass vaccination programme, as well as for the country′s private pay market.
As announced on 28 January 2021, the Company has received the first five million vaccine doses from its partner Serum Institute of India Pvt. Ltd ("SII"), which are being distributed exclusively by Beximco Pharma in Bangladesh as part of GOB’s mass vaccination programme. The agreement with SII included a total of 30 million doses - the remaining 25 million doses will be delivered in monthly instalments until June 2021.
In addition, as previously announced, the Company agreed to import a further one million doses of the vaccine from SII for sale and distribution to the private pay market in Bangladesh. However, the Company has now been informed by SII that the first instalment (500,000 doses) of this supply will be delayed following a prioritisation on supplying vaccine doses for government mass vaccination programmes and WHO-led COVAX initiatives over private pay use. It remains unclear how long this delay will last. The Company will update the market as and when appropriate.
Beximco reiterates that the impact of importing and distributing the vaccine is still expected to have a material positive impact on the Company’s full year results.
For further information please visit www.beximcopharma.com or enquire to:
Nazmul Hassan MP, Managing Director
Tel: +880 2 58611001, ext.20080
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)
Vadim Alexandre / Abigail Wayne
Tel: +44 (0) 20 3470 0470
Simon Conway / Victoria Foster Mitchell
Tel: +44 (0)20 3727 1000
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 5,500 employees are driving the company towards achieving its aspiration to be among the most admired companies in the world.