Beximco Pharma commences export to Canada. First Bangladeshi pharmaceutical company to launch pharmaceutical products in Canada

12 Oct, 2017
Beximco Pharmaceuticals Limited ("BPL", "Beximco Pharma" or "Company"; AIM Symbol: BXP), the fast-growing manufacturer of generic pharmaceutical products and active pharmaceutical ingredients, today announces it has commenced the export of Olopatadine, an ophthalmic product for treating the symptoms of eye allergy, to Canada. This follows the approval of Olopatadine (0.1% solution) by Health Canada during the last financial year and is the first time a pharmaceutical product from Bangladesh has been launched in this North American country.

According to IMS data, the current market size for Olopatadine eye drops (including all strengths) in Canada is $14 million. The first consignment was delivered on 16 September 2017 and the product will be distributed through the Company’s existing partner in Canada. Beximco Pharma’s second prescription product for the Canadian market is currently under evaluation by Health Canada, with approval expected by the first quarter of 2018. There are also a number of products in the R&D pipeline which the Company expects to file in Canada.

Beximco Pharma Managing Director, Mr Nazmul Hassan MP, commented:
“Entry into the Canadian pharmaceutical market, following the successful launch of our first product in the US last year, is a significant step forward in strengthening our presence in North America. This is the first time a pharmaceutical product manufactured in Bangladesh, notably a sterile ophthalmic product, has been exported to Canada. The launch of our second product in North America is another validation of our strength in offering specialized generic products in a global setting. We continue to focus on building a strong pipeline for prescription markets.”

Beximco Pharma’s ophthalmic unit is the only such facility in Bangladesh to be approved by the regulatory authorities of Europe, Australia and Canada. The Company currently has global footprint in more than 50 countries.

Source: http://www.beximco-pharma.com