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04 February 2023


Business Insider Bangladesh

Local drug makers report higher earnings amid Covid-19

BI Report || BusinessInsider

Published: 16:03, 17 November 2020   Update: 18:20, 17 November 2020
Local drug makers report higher earnings amid Covid-19

Photo: Freestocks from Pexels

Local pharmaceutical companies are seeing their earnings rise at a time when almost all other sectors are witnessing a decline as the ongoing Covid-19 pandemic has badly affected consumer spending.

Take the case of Beacon Pharma, for example, which reported on Monday that its earnings per share (EPS) has increased by 38.8% to Tk0.25 for Q1 (July-September) of 2020, against Tk0.18 for the same period last year.

The same has happened with Silco Pharmaceuticals Limited as well. The company, in its statement posted on the Dhaka Stock Exchange (DSE) website on Monday, reported an EPS of Tk0.33 for Q1 of 2020, against Tk0.28 for the same period last year — a 17.8% increase in earnings.

Earlier on Sunday, Beximco Pharmaceuticals Ltd also reported a 24% rise in its earnings; but the synthetics unit of the group took a loss of 25% due to the pandemic.

Similarly, Pharma Aids reported an 8.65% increase in its earnings on November 10. Renata reported a 6.84% increase in its earnings on October 27.

The only drug maker which did not report positive earnings this year is Orion Pharma Ltd.

While all other pharmaceutical companies kept reporting rising earnings, Orion reported a sharp fall of 24.66% in earnings this year.

On November 9, the company reported consolidated EPS of Tk2.84 for FY2019-20, against Tk3.77 for the same period of the last fiscal year.

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