29 January 2025

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

Half Year Results 2024-25

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 unaudited financial results for the six months ended 31 December 2024.

Financial Highlights

Half year financial highlights

·      Net sales increased 8.8% to Bangladesh Taka ("BDT") 24,013.4m/£ 161.5m (2023-24: BDT22,063.6m / £ 157.7m)

o  Domestic sales increased 7.4% to BDT 22,262.3m / £ 149.7m (2023-24: BDT 20,733.4m / £148.2m)

o  Export sales increased 31.6% to BDT 1,751.1m / £ 11.8m (2023-24: BDT 1,330.2m / £9.5m)

·      Profit after tax increased 17.5% to BDT 3,535.0m/£ 23.8m (2023-24: BDT 3,008.2m / £21.5m)

Second quarter financial highlights

·      Net sales increased 12.8% to BDT 12,299.6m / £ 82.7m (2023-24: BDT 10,904.2m / £77.9m)

·      Profit after tax increased 27.9% to BDT 1,843.1m / £ 12.4m (2023-24: BDT 1,440.8m / £10.3m)

Operational highlights

·      Launched four new products in Bangladesh market

·      Completed 28 new registrations of 27 products across 5 countries

·      Commenced export to four new countries - Cuba, Malta, Qatar and Angola

Beximco Pharma Managing Director, Iqbal Ahmed, commented:

"We're pleased to announce Beximco Pharma's second quarter and half year results today, demonstrating strong, profitable growth despite persisting macro-economic challenges. We have launched four new products domestically while we have experienced further growth internationally through new product registrations and expansion into new export countries. We look forward to building on this momentum into the second half of the year and continue to provide vital medicine to patients across the world."

The half yearly accounts can be viewed at the Company's website: www.beximcopharma.com

(Exchange rates of £1=Taka 148.6917 for 31 December 2024 and £1=Taka 139.9145 for 31 December 2023 have been used in this announcement.)     

This announcement is available in its entirety at http://www.rns-pdf.londonstockexchange.com/rns/0191V_1-2025-1-28.pdf  

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

Beximco Pharma         
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           

Mohammad Asad Ullah, FCS    
Executive Director & Company Secretary          
Tel: +880 2 41060531, Ext. 10140          

SPARK Advisory Partners Limited (Nominated Adviser)                      
Mark Brady / Andrew Emmott    
Tel: +44 (0)20 3368 3551 / 3555 

SP Angel Corporate Finance LLP (Broker)       
Matthew Johnson         
Tel: +44 (0) 20 3470 0470          

FTI Consulting
Simon Conway / Victoria Foster Mitchell / Sam Purewal  
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 6,000 employees are driving the company towards achieving its aspiration to be among the most admired companies in the region.