Beximco Pharma signs MOU with the Serum Institute of India and the Government of Bangladesh for supply of a COVID-19 vaccine

Thu, Nov 5, 2020

Beximco Pharma signs MOU with the Serum Institute of India and the Government of Bangladesh for supply of a COVID-19 vaccine

Beximco Pharmaceuticals Limited (“Beximco Pharma”, “BPL” or “the Company”; AIM Symbol: BXP, LEI No.: 213800IMBBD6TIOQGB56), the fast-growing manufacturer of generic pharmaceutical products and active pharmaceutical ingredients, has entered into a Memorandum of Understanding (“MOU”) for the supply and distribution of 30 million doses of the Oxford University/AstraZeneca SARS-CoV-2 vaccine, AZD1222, in Bangladesh, subject to regulatory approval*. The MOU, signed with the Serum Institute of India Pvt. Ltd (“SII”), the world’s largest vaccine producer, and the Government of Bangladesh (“GOB”), follows the Company′s announcement on 28 August 2020 outlining its intention to partner with SII on a COVID-19 vaccine.

Within one month of receipt of regulatory approval* necessary for supplying into Bangladesh, SII, licensed by AstraZeneca to manufacture AZD1222, will commence the delivery of the vaccine to Beximco Pharma with the entire quantity of doses to be delivered within six months. As previously announced, Beximco Pharma is the exclusive distributor of this vaccine in Bangladesh and will be responsible for maintaining the cold chain, import, storage and delivery of the vaccine to GOB warehouses. Under the terms of the MOU, GOB will pay SII for 30 million doses and Beximco Pharma will receive a separate fee for its distribution role. Whilst the terms and costings have not yet been finally determined, the Company believes that this transaction could make a material difference to the Company’s results for the year ended 30 June 2021 if delivery of vaccine to GOB is largely completed within the financial year.

It is expected that a formal purchase agreement will be signed within 30 days.

As contemplated in the announcement on 28 August 2020, Beximco Pharma has now also agreed to import a further one million doses of the vaccine from SII for sale and distribution to the private pay market in Bangladesh. The Company may import additional quantities as per demand.

*Subject to either (i) “Prequalification” or “Emergency Use” listing by the World Health Organization, or (ii) “Emergency Use Authorization” by the UK’s Medicines & Healthcare products Regulatory Agency (MHRA) or the US Food and Drug Administration (USFDA) and Bangladesh Director General of Drug Administration’s permission to import into Bangladesh

Mr. Nazmul Hassan MP, Managing Director of Beximco Pharmaceuticals commented:

“We are committed to ensuring access to a COVID-19 vaccine for the people of Bangladesh. Signing this Memorandum of Understanding with the Serum Institute of India and the Government of Bangladesh marks an important step in fulfilling that commitment and securing the supply of the Oxford University /AstraZeneca vaccine for the Country. Our role in this partnership leverages our excellence in logistics and our position as one of the leading pharmaceutical companies in Bangladesh to help bring this promising and hugely important vaccine to the people who need it the most in the Country. We look forward to reporting on our progress in the coming months.”


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