BD Post Desk
Country’s leading medicine exporter Beximco Pharmaceuticals Limited Sunday announced it has commenced export of extended release Metformin Hydrochloride (500mg and 750mg) to the US market.
This is Beximco’s fourth product for the US market following the successful launches of Carvedilol, Sotalol and Methocarbamol, said a press release.
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 USD 456.08 million.
Nazmul Hassan MP, Managing Director of Beximco Pharmaceuticals, commented: “The export of our fourth product to the US is another validation of our growing presence and strength in offering specialized generic products in the world’s largest pharmaceutical market. 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. We look forward to exporting additional, high quality, differentiated products to the US and other key global markets in the future.”
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.
Beximco Pharma is a leading exporter of pharmaceuticals in Bangladesh. The Company currently has a global footprint in more than 50 countries and has been accredited by the leading global regulatory authorities namely US FDA, AGES (EU), TGA (Australia), Health Canada, GCC (Gulf) and TFDA (Taiwan).