Beacon to export drugs to Syria

Beacon Pharmaceuticals Limited has received a good manufacturing practice (GMP) certificate from the Syrian Arab Republic for the purpose of registering the company for medicine exports.

Now, the company will be able to register its products for exporting to that country.

Company Secretary Khalilur Rahman said, "Recently, a Syrian technical team has visited our factory in this regard."

Beacon Pharmaceuticals wants to export drugs for Covid, cancer, and general treatment to the Syrian Arab Republic through the private sector, he added.

Khalilur Rahman said, "We expect that they will take medicines worth $10 million yearly. But how many items will be exported to the Syrian Arab Republic has not been finalised yet."

Currently, the company is exporting drugs to 116 countries, he added.

Earlier, he said the sales of the antiviral drug Remdesivir have increased significantly. It has been in high demand since the spread of Covid-19 around the world.

The company introduced two items for Covid-19 patients – Remdesivir and Favipiravir.

Beacon Pharmaceuticals launched the generic drug Remdesivir as "Pandovir 100" in August 2020. The company also launched Favipira the same year, used to treat Covid-19 patients.

Favipiravir is the generic name for Favipira, which is known as Avigan in Japan. Beacon Pharma brought it to Bangladesh in April 2020.

Favipiravir is a patented drug in Japan, but Bangladesh as a least developed country can make and market the medicine till 2033.

In the January-March period of fiscal 2020-21, the company's net profit was Tk46.35 crore.

In the first nine months of fiscal 2020-21, the company's earnings per share (EPS) was Tk3.71.

The company, incorporated on 12 September 2001, is engaged in manufacturing and marketing pharmaceutical finished formulation products and lifesaving intravenous (IV) fluids, active pharmaceuticals ingredients (APLs), bio-tech products, and genetic engineering products, which the company sells locally, as well as in international markets.

The company also provides contract manufacturing and tool manufacturing services.

The company was listed on stock exchanges in 2010 and its current paid-up capital is Tk231 crore.

The last trading share price at the Dhaka Stock Exchange was Tk213.90 on Thursday.

As of 30 April this year, sponsors and directors jointly held 30%, institutions 35.14% and general investors 34.86% shares of the company.