Beximco profits Tk 77 from each vaccine dose
Vaccine imports from India contributed to 40 per cent higher profits for Beximco Pharmaceuticals in the past nine months.
The listed drug makers' profits surged by Tk 107 crore, or 40 per cent, year-on-year to Tk 369 crore in the July 2020 to March 2021 period.
Beximco logged a profit of Tk 38 crore against its supply of 50 lakh doses of vaccine to the government, according to the financial report.
So, the drug maker booked profits of around Tk 76.74 from each dose of the vaccine.
This led to the local drug makers' stock to more than double since its agreement with the government and Serum Institute of India.
On November 5, the trio signed a memorandum of understanding for three crore doses of Covid-19 vaccine.
When the vaccine was approved for human application a couple of weeks after the agreement, Beximco's stocks started to surge.
Yesterday, stocks of Beximco Pharmaceuticals traded at Tk 192.50, which was Tk 80 in August last year.
As per agreement, the company is to receive fees for the import, storage and delivery of the vaccine to government warehouses across the country, the company said in the financial report.
A net amount of Tk 38.33 crore after deduction of related expenses from the fees, has been reported as income from vaccine distribution, it said.
This is a non-recurring one off contract and any future earning from this source is dependent on the delivery of the committed quantity of vaccine under the agreement.
Beximco Pharmaceuticals' consolidated revenue rose to Tk 2,176 crore in the three quarters, which was Tk 1,910 crore in the same period of the previous year. Its earnings per share stood at Tk 8.23, which was Tk 5.84.
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