Beximco Pharma earns Tk 62 crore from vaccine distribution fee

Beximco Pharmaceuticals earned Tk 61.92 crore as vaccine distribution fee in the first nine months of the current financial year.

The higher income from vaccine helped the pharma maker log higher profits in the period.

In July 2021 to March 2022, the company's profits rose 13 per cent year-on-year to Tk 420 crore and the revenue rose 19 per cent year-on-year to Tk 2,592 crore.

The company achieved over 19 per cent growth in consolidated revenue.

Moreover, it also recorded a rise in 'other income' category thanks to a higher income from vaccine distribution fee this fiscal year compared to the previous year, Beximco Pharmaceuticals said in the financial report.

"These have contributed towards increase in consolidated earnings per share," the financial report read.

Beximco Pharma signed deal with the government in early November 2020 to distribute three crore doses of Covid-19 vaccines from Serum Institute of India (SII).

Pune-based Serum manufactures the AstraZeneca vaccine, ChAdOx1 nCoV-19, being developed by the Oxford University. Beximco Pharma bought each dose from Serum for $4 and then supplied it to the government for $5.