Beximco Pharma first company to start drug export to Gulf nations

Beximco Pharmaceuticals Ltd (BPL), a fast-growing manufacturer of generic pharmaceutical products and active pharmaceutical ingredients, entered the Kuwaiti pharma market yesterday. It did so by launching two inhalers for respiratory disorders and a blood pressure drug.
This is the first time that a pharmaceutical product from the country has been exported to a Gulf Cooperation Council (GCC) country.
The export of two inhalers, Azmasol (salbutamol) and Bexitrol-F (salmeterol plus fluticasone), and blood pressure drug Amdocal (amlodipine) formally started yesterday at the company’s factory in Gazipur’s Tongi in the presence of the ambassador of Kuwait to Bangladesh, Adel Mohammad AH Hayat.
Hayat said: “This is the first shipment of medication from Bangladesh to our country. It’s a good beginning of cooperation between the two countries.”
“I am really amazed to see the production facilities of BPL,” he added.
BPL aims to export products worth half a million dollars to GCC countries by next year.
Answering to a question from journalists, Beximco Group Vice-Chairman Salman F Rahman said, “Beximco pharma is now exporting medicines to 54 countries including Kuwait. Beximco Pharma had worked hard for the last seven years to get necessary approvals from the authorities, which are usually a lengthy process. Now we are expecting to export 1 billion dollars of medicine within next five years, which was 15 million dollars last year.”
“Prices of our products are higher in the domestic market, but compared with the other countries that export medicines to Kuwait, the prices are very low. No other country can export products at our rate. So, we can tap the market,” he added.
Nazmul Hassan, managing director of Beximco Pharma, said: “This is not like garments. We have to start by promoting the medicines though doctors of the foreign country to increase the demand. However, we are confident that we can tap the export medicines market of GCC.”
“BPL is building its presence in many emerging and developed markets, such as the US, the EU, the GCC and Australia, where the demand for generic products is rising. Lunch of products in Kuwait will open up new opportunities for the country,” he added.
Kuwait is BPL’s 54th export destination. GCC countries Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates (UAE) established a common market in January 2008. The combined pharmaceutical market of the GCC countries is currently valued at over USD 9 billion. Kuwait has a pharma market of around a billion dollars.
Last year, Beximco’s pharmaceutical exports totalled USD 15 million, while the demand for the products in the domestic market is USD 100 million. Those in the know said the export of drugs to other countries has to deal with challenges like promoting products and increasing the demand. However, they said that initial difficulties have already been overcome and in the near future, exports would increase.
In the Bangladeshi pharma sector, Beximco currently has the highest number of global accreditations.
The company’s state-of-the-art manufacturing facilities have been certified by global regulatory authorities such as TGA Australia, AGES Austria (for the European Union), Health Canada, ANVISA Brazil, INVIMA Colombia and TFDA (Taiwan), among others.

Beximco Pharma first company to start drug export to Gulf nations

Beximco Pharmaceuticals Ltd (BPL), a fast-growing manufacturer of generic pharmaceutical products and active pharmaceutical ingredients, entered the Kuwaiti pharma market yesterday. It did so by launching two inhalers for respiratory disorders and a blood pressure drug. This is the first time that a pharmaceutical product from the country has been exported to a Gulf Cooperation Council (GCC) country. The export of two inhalers, Azmasol (salbutamol) and Bexitrol-F (salmeterol plus fluticasone), and blood pressure drug Amdocal (amlodipine) formally started yesterday at the companys factory in Gazipurs Tongi in the presence of the ambassador of Kuwait to Bangladesh, Adel Mohammad AH Hayat. Hayat said: This is the first shipment of medication from Bangladesh to our country. Its a good beginning of cooperation between the two countries. I am really amazed to see the production facilities of BPL, he added. BPL aims to export products worth half a million dollars to GCC countries by next year. Answering to a question from journalists, Beximco Group Vice-Chairman Salman F Rahman said, Beximco pharma is now exporting medicines to 54 countries including Kuwait. Beximco Pharma had worked hard for the last seven years to get necessary approvals from the authorities, which are usually a lengthy process. Now we are expecting to export 1 billion dollars of medicine within next five years, which was 15 million dollars last year. Prices of our products are higher in the domestic market, but compared with the other countries that export medicines to Kuwait, the prices are very low. No other country can export products at our rate. So, we can tap the market, he added. Nazmul Hassan, managing director of Beximco Pharma, said: This is not like garments. We have to start by promoting the medicines though doctors of the foreign country to increase the demand. However, we are confident that we can tap the export medicines market of GCC. BPL is building its presence in many emerging and developed markets, such as the US, the EU, the GCC and Australia, where the demand for generic products is rising. Lunch of products in Kuwait will open up new opportunities for the country, he added. Kuwait is BPLs 54th export destination. GCC countries Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates (UAE) established a common market in January 2008. The combined pharmaceutical market of the GCC countries is currently valued at over USD 9 billion. Kuwait has a pharma market of around a billion dollars. Last year, Beximcos pharmaceutical exports totalled USD 15 million, while the demand for the products in the domestic market is USD 100 million. Those in the know said the export of drugs to other countries has to deal with challenges like promoting products and increasing the demand. However, they said that initial difficulties have already been overcome and in the near future, exports would increase. In the Bangladeshi pharma sector, Beximco currently has the highest number of global accreditations. The companys state-of-the-art manufacturing facilities have been certified by global regulatory authorities such as TGA Australia, AGES Austria (for the European Union), Health Canada, ANVISA Brazil, INVIMA Colombia and TFDA (Taiwan), among others.