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Beximco Pharmaceuticals Limited Provides Update on the Supply of COVID-19 Vaccine in Bangladesh

04/28/2021 | 02:00am
Beximco Pharmaceuticals Limited provided the following update on the supply of COVID-19 vaccine in Bangladesh. As previously announced, Beximco Pharma's agreement with the Government of Bangladesh (GOB) and the Serum Institute of India Private Limited (SII) required SII to deliver a total of 30 million doses to GOB in monthly instalments, with all deliveries to be completed within six months of the vaccine's regulatory approval (which, as announced by GOB, was on 7 January 2021), with Beximco Pharma to receive a separate fee for its role in storage and nationwide distribution of the vaccine. SII has so far delivered seven million doses to GOB. However, following the recent surge in COVID-19 cases in India, the Indian Government has put temporary controls on vaccine exports. As a result, Beximco Pharma anticipates some delays in vaccine supplies as SII will be unable to make its planned monthly deliveries. Beximco Pharma also, therefore, does not anticipate that SII will be able to supply the all of the remaining 23 million doses before the planned date at the end of June 2021. The Company will collaborate with SII to provide a revised supply schedule once the temporary export controls are relaxed. The expected positive impact on the current financial year, as outlined in the announcement on 5 November 2020, may therefore be mitigated. In addition, Beximco Pharma confirms that the previously announced plans to distribute one million doses for the private pay market in Bangladesh are on hold. The Company will review whether to resume these plans once vaccine supplies stabilise.
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