2 November 2021

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 twelve-month period ended 30 June 2021

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 twelve months ended 30 June 2021.

Highlights

Financial - demonstrated underlying strength with continued double-digit growth despite Covid-19 headwinds

·      Net sales increased 15.2% to Bangladesh Taka ("BDT") 29,493.6m / £251.4m (2019-20: BDT 25,611.9m / £245.5m)

-       Domestic sales increased 15.4% to BDT 26,369.6m / £224.8m (2019-20: BDT 22,860.1m / £219.1m)

-       Export sales increased 13.5% to BDT 3,124.0m / £26.6m (2019-20: BDT 2,751.8m / £26.4m)

·      Profit after tax increased 45.7% to BDT 5,165.7m / £44.0m (2019-20: BDT 3,544.4m / £34.0m)

·      EPS for the year amounted to BDT 11.49

·      Recommended 35% cash dividend (BDT 3.5 per share)

Operational - continued to build portfolio and international presence

·      Entered into a binding commitment with Sanofi group to acquire a majority stake (54.6%) in Sanofi Bangladesh Limited; completed post-period

·      Signed an exclusive agreement with the Serum Institute of India Pvt. Ltd (SII), the world's largest vaccine producer, for the distribution of AstraZeneca/Oxford's COVID-19 vaccine in Bangladesh.

o  Received and distributed seven million doses from the Serum Institute of India under the said agreement (with a further one million doses received post-period)

·      Domestic market:

o  Launched twenty-two new products (thirty-two presentation forms and strength) such as:

§ Remmo, a buffered esomeprazole MUPS (Multiple-Unit Pellet System) formulation of Esomeprazole

§ Fulphila, a USFDA and EMA approved first Biosimilar Pegfilgrastim from Mylan as a supportive chemotherapy treatment.

§ Beximco's first mosquito repellent cream NOMOS®, containing nature inspired ingredient Ethyl butylacetyl aminopropionate, commonly known as IR3535 (developed by Merck)

·      International market:

o  Completed twenty-five registrations for twenty-two products in fourteen countries

o  Entered eight new countries (Oman, Lebanon, Venezuela, Bolivia, Kosovo, Mexico, Congo, Mongolia)

o  Received ANVISA (Brazil) approval for OSD (T-II), MDI and Sterile unit

o  Received US Food and Drug Administration approval for Flecainide Acetate (50, 100 and 150 mg tablets), an antiarrhythmic drug used for treating irregular heartbeats and for muscle relaxant drug, Baclofen (post-period). Beximco Pharma now has nine Abbreviated New Drug Application (ANDA) approved for the US market

·      Awards:

o  Received highly prestigious CPhI Pharma Award in the category of 'Innovation in Response to COVID -19'

o  Won "Public Service-Best COVID-19 Response awards" at the 3rd edition of the Bangladesh Innovation Award 2021

o  Signed the "Open pledge from Global Manufacturers of Generic Medicines against COVID-19" on November 2020

o  Nominated for the Global Generics & Biosimilars Awards 2021 in the category of "Company of the year, Asia Pacific" and "Corporate Social Responsibility (CSR) Initiative of the Year"

Beximco Pharma managing director Nazmul Hassan MP commented,

"Against the backdrop of logistical and operational challenges presented by the Covid-19 pandemic, Beximco Pharma was able to deliver another year of double-digit revenue growth, thanks to the ongoing execution of our strategy. We have continued to expand the number of products available in our domestic market while simultaneously expanding our global footprint. Bolstered by the acquisition of a majority stake in Sanofi Bangladesh, we are well-positioned to maintain our growth trajectory and deliver affordable medicines for people around the world."

Exchange rates of £1 = Taka 104.331 for 2019-20 numbers and £1 = Taka 117.32 for 2020-21 numbers have been used in this announcement.

 For further information please visit www.beximcopharma.com or enquire to:

Beximco Pharma

Nazmul Hassan MP, Managing Director

Tel: +880 2 58611001, Ext.20080

Mohammed Ali Nawaz, Chief Financial Officer

Tel: +880 2 58611001, Ext.20030

Jamal Ahmed Choudhury, Director, Accounts & Finance

Tel: +880 2 58611001, Ext.20022

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

FTI Consulting

Simon Conway / Victoria Foster Mitchell

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 5500 employees are driving the company towards achieving its aspiration to be among the most admired companies in the world.

Beximco Pharmaceuticals Limited and its Subsidiaries

Consolidated Statement of Financial Position

As at June 30, 2021

Beximco Pharmaceuticals Limited and its Subsidiaries 

Consolidated Statement of Profit or Loss and Other Comprehensive Income For the Year ended June 30, 2021

Beximco Pharmaceuticals Limited and its Subsidiaries

Consolidated Statement of Changes in Equity

For the Year Ended June 30, 2021

Beximco Pharmaceuticals Limited and its Subsidiaries

Consolidated Statement of Cash Flows

For the Year ended June 30, 2021