Beximco Pharma enters Canada
Beximco Pharmaceuticals has become the first Bangladeshi company to export medicines to Canada.
The first consignment of Olopatadine, a sterile ophthalmic product, was delivered to the North American country on Saturday, Beximco said in a statement.
Health Canada, a department of the Canadian government responsible for national public health, approved Olopatadine (0.1 percent solution used for treating symptoms of eye allergy) in the last financial year.
According to IMS data, the current market size for Olopatadine eye drops (of all strengths) in Canada is $14 million.
“The entry into the Canadian pharmaceutical market, following the successful launch of our first product in the US last year, is a significant step forward in strengthening our presence in North America,” said Nazmul Hassan, managing director of Beximco Pharma.
This is the first time a pharmaceutical product manufactured in Bangladesh, notably a sterile ophthalmic product, has been exported to Canada, he said.
“The launch of our second product in North America is another validation of our strength in offering specialised generic products in a global setting. We continue to focus on building a strong pipeline for prescription markets.”
Beximco Pharma will distribute the product through the company's existing partner in Canada.
The company's second prescription product for the Canadian market is currently under evaluation by Health Canada, with approval expected by the first quarter of 2018.
There are also a number of products in the research and development pipeline which the company expects to send to Canada, according to the statement.
Beximco Pharma's ophthalmic unit is the only such facility in Bangladesh to be approved by the regulatory authorities of Europe, Australia and Canada. The company has a global reach in over 50 countries.
Founded in 1976 and based in Dhaka, Beximco Pharma now has 3,500 employees and it 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.