Beximco Pharma Discussion Threads

[davebowler] 05/8/2016 09:34

RNS Number : 3255G

Beximco Pharmaceuticals Ltd

05 August 2016

5 August 2016

BEXIMCO PHARMACEUTICALS LTD.

Beximco Pharma commences export to the United States

First Bangladeshi pharmaceutical company to launch pharmaceutical products in the US

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 Carvedilol, a prescription drug for treating hypertension, to the US. This follows the product's approval from the US Food and Drug Administration ("US FDA") in November 2015 and is the first time a pharmaceutical product from Bangladesh has been launched in the US.

To mark the delivery of the first consignment on 4 August 2016, and to celebrate this milestone achievement for Beximco Pharma, a brief ceremony was held in the presence of Finance Minister, Mr. Abul Maal Abdul Muhith MP, Health and Family Welfare Minister, Mr. Mohammed Nasim MP and US Ambassador to Bangladesh Her Excellency Marcia Stephens Bloom Bernicat. Senior officials from different ministries, including the Export Promotion Bureau (EPB), the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) and the Bangladesh Association of Pharmaceutical Industries (BAPI) were also in attendance.

Commenting on the news, Beximco Group Vice Chairman Mr. Salman F Rahman said, "Today is a significant milestone for Beximco Pharma. As we deliver our first shipment of Carvedilol to the US market, we begin a new era for the pharmaceutical industry in Bangladesh. We believe our continued focus on building and strengthening the Group's presence in Western markets will cement Bangladesh's position as a major exporting country."

Beximco Pharma Managing Director Mr. Nazmul Hassan MP continued, "These initiatives are in line with our aspirations to expand our reach by taking products to the world. The US is the largest and most lucrative pharmaceutical market in the world. As a leading exporter of medicines, we always strive to capitalise on the generic drug opportunities in the world market. We believe our competitive products, especially with specialised and differentiated generic products, will help strengthen our presence in the US and other advanced markets."

Beximco Pharma became the first Bangladeshi pharmaceutical company audited and approved by the US FDA in June 2015.

Beximco Pharma is the largest exporter of pharmaceuticals in Bangladesh, winning the country's National Export Trophy (Gold) a record five times, the highest national accolade for export. The Company currently has a global footprint in more than 50 countries and has been accredited by a number of global regulatory authorities, including US FDA, AGES (EU), TGA Australia, Health Canada, GCC and TFDA.

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

Beximco Pharma

Nazmul Hassan MP, Managing Director

Tel: [phone], ext.20080

SPARK Advisory Partners Limited (Nominated Adviser)

Mark Brady / Sean Wyndham-Quin

Tel: [phone] / 3555

FTI Consulting

Simon Conway / Victoria Foster Mitchell

Tel: [phone]

Notes to Editors

About Beximco Pharmaceuticals Limited

Founded in 1976 and based in Dhaka, Bangladesh, Beximco Pharma manufactures and sells generic pharmaceutical formulation products and active pharmaceutical ingredients. The Company also undertakes contract manufacturing for multinational and leading global generic pharmaceutical companies. The Company operates from a 23 acre site in Dhaka and has manufacturing facilities for producing various drugs in different delivery systems such as tablets, capsules, liquids, semi-solids, intravenous fluids, metered dose inhalers, dry powder inhalers, sterile ophthalmic drops, prefilled syringes, injectables, nebuliser solutions, oral soluble films etc. Ensuring access to quality medicines is the powerful aspiration that motivates 3,000 employees of the Company.

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. The Company's products are sold to retail outlets, medical institutions and other pharmaceutical manufacturers in Bangladesh, in regional markets such as Sri Lanka, Nepal, Bhutan, Vietnam, Cambodia and Myanmar and in other markets overseas, principally in South East Asia, including Singapore, Taiwan, Malaysia, Indonesia, Philippines and Hong Kong; Africa, including South Africa, Mauritius, Kenya, Ghana, Ethiopia, Uganda and Nigeria; Central Asia, including Azerbaijan; Middle East, including Kuwait and Jordan; Pacific Island countries; Latin and Central American countries; Europe, including Austria, Germany and Romania; Australia etc.

This information is provided by RNS

The company news service from the London Stock Exchange

[sharpish] 04/8/2016 14:06

Company announced that scrip dividend is delayed this year until after the AGM, to be held before year end

[4spiel] 04/8/2016 12:16

I received the cash dividend but still waiting for stock dividend - normally slow but getting a bit stretched.(?) True long way from Dhaka ! But the stock is going up so worth a bit more.

[2350220] 22/7/2016 08:52

Yep, just received mine, in my Hargreaves account.
John

[blobby] 21/7/2016 09:29

I've received the dividend in YouInvest today at a rate of USD 0.012717 per share and the a conversion to GBP at an exchange rate of 0.755333. However there seems to have been a 15% reduction for "tax". Does anyone know who the tax is being paid to?

Just to answer my own question:

This seems to suggest that dividend tax in Bangladesh is 20%

hxxp://www2.deloitte.com/content/dam/Deloitte/global/Documents/Tax/dttl-tax-bangladeshhighlights-2016.pdf

But there is a convention agreed between the UK and Bangladesh designed to avoid double taxation which seems to limit the tax to UK residents to 15% (+ any extra to the UK if you are a higher rate taxpayer perhaps?)

[2350220] 19/7/2016 11:55

Sure 4spiel,
I wasn't meaning to sound impatient.
Just re-replying to a previous poster who had asked about when the bonus might be paid.
This has been a very slow burner for me, but has also been one of my best investments.
John

[4spiel] 19/7/2016 11:05

They are notoriously slow but so far it always arrives. maybe cheaper sterling will result in increase in the payment if the the BDT now 103. Stock once went to 55p - mixed comments about this company in the past in particular the 'dormant' issue of fungibility with the parent stock but this GDR has been around some considerable time and the Company is probably the flagship of this country with which we are much engaged with. I am happy to hold.

[2350220] 19/7/2016 09:45

Just to update you that I haven't had any Bonus on my Hargreaves account.
John

[jim208] 13/7/2016 08:57

Thanks John.

[2350220] 12/7/2016 09:37

Hi Jim,
I haven't seen any change with my Hargreaves SIPP acct so far.
What I have noticed in the past, is that the share price will take a bit of a dive on the day the bonus is issued.
John

[jim208] 05/7/2016 18:31

Any idea how the stock dividend is handled? The account I use for tracking my portfolio has recorded a stock split allocating me 21 shares for ever 20 that I held dated 10th May. In order for this stock dividend to benefit shareholders, this needs to be handled differently to a stock split, otherwise everyone ends up with more shares, presumably valued slightly lower individually to deliver the same market cap? I think BXP gave a stock dividend last year, so anyone who held then who can share some light on this would be most appreciated!

[trewinney] 05/7/2016 09:47

John,,Thanks.

[2350220] 05/7/2016 08:55

I use Hargreaves, and the last few years, the bonus has come between the 7th and 17th July.
So that, might be a reasonable suggestion,maybe.

John

[trewinney] 04/7/2016 16:21

Anyone know when the dividend might arrive?

[4spiel] 18/6/2016 01:46

Company declared on 9th May a stock dividend of 5 per cent and a cash dividend said to be 10 per cent but in reality is 1BDT per share at exchange rate of 121 to £ about 0.83p per share payable by 4th July. Overall about 3 per cent - nothing exciting but a good trading performance so live in hope !

[blobby] 03/12/2015 10:30

BXP doing well here and also on the Dhaka Stock Exchange (see link above). I expect we are following Dhaka to some extent, but strange people are buying there and not here where there is a huge gap in price.

1 taka = 0.0086 Gbp. Share price in Dhaka is now 82 taka which is the same as 70 pence.

[2350220] 19/11/2015 09:59

Blimey, we look to have woken up this morning.

[dan158] 26/8/2015 12:16

Simon Cawkwell (aka as Evil Knievil) comments on Beximco Pharma (BXP) Spread Betting Mag August Edition page 87

[shano2] 13/8/2015 18:53

Thanks Simon and Bob

[bobdouthwaite] 13/8/2015 17:36

Hargreaves Lansdowne tell me dividend payment should be made Tuesday next week.