• Friday, Feb 26, 2021
  • Last Update : 09:34 pm

Beximco Pharma heading towards a signpost year

  • Published at 12:45 am January 28th, 2021
Beximco pharma 2020 profit

Profit and sales up in Oct-Dec

Beximco Pharma saw its profit soar about 35 per cent between October and December of last year to Tk 114.1 crore as the local drugmaker continues to make the most of the unprecedented public health crisis thrown up by coronavirus.

The quarter’s taking takes Beximco Pharma’s profit in the first half of its 2020-21 financial year, which runs from July to June, to Tk 222.6 crore, up 29.8 per cent year-on-year.

The pharmaceutical giant, which is supplying the Bangladesh government with 30 million doses of the Oxford University-AstraZeneca coronavirus vaccine by Serum Institute of India (SII) logged in sales of about Tk 747.4 crore during the quarter, up 20.6 per cent from a year. 

This takes its total sales in the first half of the financial year to Tk 1,440 crore, up 15.2 per cent from a year earlier.

The higher sales numbers are not at all unexpected.

Back in May last year, when the world was gripped by fear of the rogue virus that jumped out of Wuhan, China, the company grabbed grabbing headlines globally for being the first company to market remdesivir, the antiviral drug that showed promise then in treating COVID-19 patients. 

The company exported the drug as well as other medications to treat Covid-19 to a host of countries. It has been supplying the medications at home, too.

Subsequently, its profit and sales are scaling new highs.

It is no surprise then shares of Beximco Pharma have been on the rise since June after the Dhaka bourse resumed from the 66-day recess in line with the government’s countrywide general shutdown to slow the spread of coronavirus.

Since then, Beximco Pharma’s stock price soared more than two-and-a-half times. Yesterday, they closed at Tk 188.1, in contrast to Tk 70.3 on June 1, when trading resumed at the bourse.

Beximco Pharma declined to comment for the report.

75
Facebook 69
blogger sharing button blogger
buffer sharing button buffer
diaspora sharing button diaspora
digg sharing button digg
douban sharing button douban
email sharing button email
evernote sharing button evernote
flipboard sharing button flipboard
pocket sharing button getpocket
github sharing button github
gmail sharing button gmail
googlebookmarks sharing button googlebookmarks
hackernews sharing button hackernews
instapaper sharing button instapaper
line sharing button line
linkedin sharing button linkedin
livejournal sharing button livejournal
mailru sharing button mailru
medium sharing button medium
meneame sharing button meneame
messenger sharing button messenger
odnoklassniki sharing button odnoklassniki
pinterest sharing button pinterest
print sharing button print
qzone sharing button qzone
reddit sharing button reddit
refind sharing button refind
renren sharing button renren
skype sharing button skype
snapchat sharing button snapchat
surfingbird sharing button surfingbird
telegram sharing button telegram
tumblr sharing button tumblr
twitter sharing button twitter
vk sharing button vk
wechat sharing button wechat
weibo sharing button weibo
whatsapp sharing button whatsapp
wordpress sharing button wordpress
xing sharing button xing
yahoomail sharing button yahoomail