Beximco Pharma profits jump on vaccine income

Beximco Pharmaceuticals' profit jumped by a whopping 41 per cent year-on-year during the first half of the financial year 2021-22 thanks to higher incomes in the form of coronavirus vaccine distribution fees.

The drug maker's profit stood at Tk 313 crore in the six months, which was Tk 222 crore in the same period of the previous year.

The income of the company increased predominantly for incomes from vaccine distribution fees, which was not there in the period being compared with, the company said in its unaudited financial report.

From vaccine distribution fee, the drug maker earned around Tk 61.92 crore in the six-month period.

"These have contributed towards an increase in consolidated earnings per share," said the document.

Consolidated operating cash flow per share also increased due to the higher revenue and improved net working capital.

The company achieved over 17 per cent growth year-on-year in consolidated sales as it logged sales of Tk 1,696 crore in the latest half yearly.

The transfer of ownership of Sanofi Bangladesh was completed on September 30, 2021 for Tk 469.6 crore, according to the financial report.

Sanofi Bangladesh was not included in the financials of Beximco Pharmaceuticals.