Beximco nets Tk77 profit for a dose of vaccine

Beximco Pharmaceuticals posted the biggest earnings in its history due to its lucrative business as an exclusive supplier in Bangladesh for the Oxford-AstraZeneca Covid-19 vaccine produced by the Serum Institute of India.

According to the company's financial report, the company made a profit of Tk 38.37crore by supplying 50 lakh corona vaccines to the government. The profit per dose of vaccine is Tk 76.74.

Accordingly, it has witnessed a 62 percent rise in its earnings in the reported quarter backed by the coronavirus vaccine supply, according to the company.

“The earnings rose due to the Covid-19 vaccine business,” Chief Financial Officer of Beximco Pharmaceuticals Mohammad Ali Newaz told the Business Insider Bangladesh.

The local giant drug manufacturer’s earnings per share (EPS) in Q3 (January-March) of the current financial year was Tk3.28, which was Tk2.02 in the same period a year earlier, said the company in a filing with the Dhaka Stock Exchange on Sunday.

The company so far supplied 70 lakh vaccines to the government but profits made from 50 lakh vaccines supplied from January to March has been added to the earnings.

On Sunday, its share prices closed at Tk 192.5, according to the Dhaka Stock Exchange.

The local drug maker agreed with the Serum Institute of India (SII), the world’s largest manufacturer of vaccines by volume, on December 13 last year for three crore doses of the Covid-19 vaccine.