Beximco Pharmaceuticals launches third product for US market

Beximco Pharmaceuticals has commenced the export of their third product Methocarbamol (500mg and 700mg) to the US market. A subsidiary of Beximco Group, it is the largest private business group in Bangladesh. The foundation of this Group was laid by two brothers – ASF Rahman and Salman F Rahman.

Beximco Pharmaceuticals is the largest exporter of pharmaceuticals in Bangladesh. It manufactures and sells generic pharmaceutical formulation products, active pharmaceutical ingredients (API) and intravenous (IV) fluids.

The subsidiary also has contract manufacturing agreements with global pharmaceutical firms. At present, it has a global footprint in over 50 countries. Moreover, the company has been recognized by some of the leading global regulatory authorities, including the US FDA, Health Canada, AGES (EU), TGA (Australia), GCC (Gulf) and TFDA (Taiwan).

On April 21, 2018, the company delivered its first consignment of Methocarbamol to the world’s largest pharma market. The first product exported from the company was Carvedilol in August 2016, while the other one was Sotalol in November 2017. The decision to launch the third product was taken after the success of these two products.

The latest product that Beximco Pharmaceuticals has decided to export, Methocarbamol, is generic equivalent to muscle relaxant drug Robaxin from Auxilium Pharmaceuticals. The US market for Methocarbamol is currently valued at $23.37 million, according to IQVIA market data.

Nazmul Hassan MP, Managing Director at Beximco Pharma, expressed his thoughts on the occasion. He stated, “The export of our third product to the US further builds our presence in the world’s largest pharmaceutical market. We continue to focus on growing our portfolio in the US, which we believe will be a major export market for Beximco Pharma in the coming years.”

“We remain focused on our strategic goal to bring high quality, differentiated products to both developed and key emerging markets to create value for our customers and shareholders,” he added.

In June 2015, Beximco Pharma received its manufacturing site approval from the US Food and Drug Administration (FDA). Following that, the company remains the only Bangladeshi pharmaceutical company to export medicine to the US market thus improving the stance of the company in international markets.