Beximco Pharma receives approval from US FDA

Beximco Pharma rose on Wednesday after receiving approval from the US Food and Drug Administration.

Beximco is the first Bangladeshi pharmaceutical company to be approved by the US FDA following the completion of the inspection of its oral solid dosage facility at Tongi.

Furthermore, the group has submitted a number of new drug applications to the FDA, which are under review and will be exported to the US market once the review is complete.

Managing director Nazmul Hassan said: "We have become the first Bangladeshi company to receive US FDA accreditation, which is a remarkable achievement for the Company and the whole Bangladesh pharmaceutical industry.

" It paves the way for the export of medicines to the US market, which is known for its stringent regulations and high quality standards."

Shares jumped 9.49% to 18.75p on Wednesday at 08:59.