LONDON (ShareCast) - (ShareCast News) - Generic pharmaceutical products manufacturer Beximco Pharmaceuticals announced on Monday that it has commenced the export of Olopatadine, an ophthalmic product for treating the symptoms of eye allergy, to Canada.
The AIM-traded firm said it followed the approval of Olopatadine 0.1% solution by Health Canada in October 2016, and was the first time a pharmaceutical product from Bangladesh has been launched in the North American country.

According to IMS data, the current market size for Olopatadine eye drops - including all strengths - in Canada is $14m.

The first consignment was delivered on 16 September, and the product would be distributed through the company's existing partner in Canada.

Beximco Pharma's second prescription product for the Canadian market was currently under evaluation by Health Canada, the board added, with approval expected by the first quarter of 2018.

There were also a number of products in the R&D pipeline which the company said it expected to file in Canada.

"Entry into the Canadian pharmaceutical market, following the successful launch of our first product in the US last year, is a significant step forward in strengthening our presence in North America," said Beximco managing director Nazmul Hassan.

"This is the first time a pharmaceutical product manufactured in Bangladesh, notably a sterile ophthalmic product, has been exported to Canada."

Hassan said the launch of Beximco's second product in North America was "another validation" of the firm's strength in offering specialised generic products "in a global setting".

"We continue to focus on building a strong pipeline for prescription markets."

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