Export of Beximco Pharma’s fourth product to US market started

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DHAKA, July 22, 2018 (BSS) – Bangladeshi pharmaceutical conglomerate,
Beximco Pharmaceuticals Limited, has started the export of extended release
Metformin Hydrochloride (500mg and 750mg) to the market of United States.

This is Beximco’s fourth product for the US market following the successful
launches of Carvedilol, Sotalol and Methocarbamol, a press release said
today.

“The export of our fourth product to the US is another validation of our
growing presence and strength in offering specialised generic products in the
world’s largest pharmaceutical market,” said Nazmul Hassan, managing director
of Beximco Pharmaceuticals.

“Since receiving US FDA approval for our oral solid dosage facility in June
2015, we have continued to leverage our competitive generic capabilities and
cost advantages to focus on expanding our portfolio in the US, which is an
increasingly important market for the company,” he said.

Nazmul said his company is looking forward to exporting additional, high
quality and differentiated products to the US and other key global markets in
the future.

Beximco Pharma received US Food and Drug Administration (FDA) approval for
Metformin Hydrochloride, a generic equivalent to Bristol-Myers Squibb’s anti-
diabetic drug Glucophage, in December 2016.

According to IQVIA market data, the US market for Metformin Hydrochloride
is currently valued at US$ 456.08 million.

In August 2016, Beximco Pharma became the first Bangladeshi pharmaceutical
company to export medicine to the US market following its manufacturing site
approval by the US FDA in June 2015.

 

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