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1 Published by Marshal Richard See More Highlights of 2009

Achieved sales turnover of more than BDT 4.86 billion with more than 21%growth, outperforming the industry growth of 17%.

The company saw introduction of 26 new products in total of 34presentations.

ION unit was launched for producing injectables, ophthalmics and nebulizersolutions and a total of 16 products were launched in the year.

Commissioning of the remaining 3 lines of USEDA standard OSD facilitystarted having an installed capacity to produce 4 billion tablets annually.

Received regulatory approval from ANVISA (Brazil); as the firstBangladeshi company.

Construction of new MDI facility completed in 2009; facility will be readyQ3 of 2010.

Product registration in Australia.

Signed long-term supply agreement with ADF, France for asthma inhalers.

Export turnover grew 59%.

51 products registered in 12 countries. Oseflu, Beximcos brand of Oseltamivir, wa s supplied to central and LatinAmerica in the wake of pandemic H1N! flu. This drug also supplied to government agencies and international organizations in Bangladesh during this national emergency.

Global Footprints Beximco Pharma has a global footprint in 40 countries across 4 continents. Ourposition in many Asian and African countries are stronger than ever. Althoughcurrently we are operating mostly in less regulated markets, we are increasinglyfocussed on regulated markets of USA and EU for value added generics. In 2009,our export turnover crossed $4 million registering a growth of 59% over 2008.Although our export sales contribute little to the total turnover of the company, thegrowth rate shows we are going in the right direction. During the year weregistered 51 products in twelve countries, and became the first Bangladeshicompany to export inhaler products to Malaysia. The company received increasingresponse from Central America and Africa and we have strengthened ourdistribution and marketing efforts in those regions. Our products are widelyprescribed by physicians with trust and confidence and we are being supplied torenowned hospitals and institutes in many countries which include RafflesHospital, Healthway Medical Group and K K Women & Children Hospital inSingapore, Asthma Drug Facility (ADF) of France, CENABLAST in Chile, andMEDS and Kenyatta National Hospital in Kenya.The company has a clear strategy to capitalize on the generic drug opportunities inoverseas markets-both existing as well as newer and developed markets. To realizethe export potential in global generics, particularly the value added generics in theregulated markets, the company has given top priority in developing internatinalmarkets and it continues

to pursue approvals from global drug regulatoryauthorities. Regulatory approval from ANVISA (Brazil) during the year makesways for the company to enter the attractive and emerging markets of LatinAmerica.The company entered several new markets in the year and currently it has globalfootprints in 40 countries. It has taken aggresive plans to capitalize on the globalgeneric drug opportunities with increasing focus on regulated markets of EU, USAand Australia.

In 2009 , 51 products registered in 12 countries Export turnover grew 59% over 2008. Product Registration Worldwide Australia 1 Asia 322 Africa 75 Middle East 22 Central & Latin America 11

Key Operating and Financial Data Taka in Thousand Particulars 2009 2008 2007 2006Authorized Capital Paid up Capital Total Sales Export Sales Gross Margin Profit Before Tax Net Profit Fix Assets (Gross)

Shareholders Equity 910000015114934868255272126230204886746762474015621366108857072000 000125957740101671706042007296714121545341142918501045020220000001 145070359702512275216295153996783530681051603082509402000000104097 33702317115099173108652324347065998858407949920Dividend Earnings per Share (EPS) Marketing Price Per Share(at end of the year) Price Earnings Ratio (Time) Number of shareholders Foreign Investors ICS including ICBInvestors Account Sponsors, General Public &Other Institutions Number of Employees15%4.13155.837.72 80189 5489079245251130%3.61167.746.45 65556 5488564617231015%2.8058.921.04 53892 6087952953238415%4.1153.713.06 48932 58986478882403

BEXIMCO PHARMACEUTICALS LIMITED Balance Sheet As At 31 st December 2009 2009 Tk.

Change %2008 Tk. Change %ASSETS Non - Current Assets 12975195529 65.2 11957773787 80.69 Property, Plant And Equipments - CarryingValue 12966587178 65.2 11921072697 80.44Intangible Assets 5726525 0.03 0Investment In Share 2881826 0.01 36071090 0.24 Current Assets 6916737893 34.8 2861891654 19.31 Inventories 1722953284 8.7 1505288093 10.16Spares & Supplies 242034855 1.2 234530326 1.58Accounts Receivable 694111730 3.5 503916401 3.40Loans, Advance & Deposits 699204450 3.5 544509106 3.67Short Term Investment 2500000000 12.6 0 0Cash & Cash Equivalent 1058433574 5.3 73647728 0.50 TOTAL ASSETS19891933422100.0 14819665441 100SHAREHOLDERS' EQUITY &LIABILITIES Shareholders' Equity 10885706614 54.7 10450202145 70.52 Issued Share Capital 1511492960 7.6 1259577470 8.50Share Premium 1489750000 7.5 1489750000 10.05Excess Of Issue Price over Face Value Of GDRs 1689636958 8.5 1689636958 11.40Capital Reserve On Merger 294950950 1.5 294950950 1.99Revaluation Surplus 1617361714 8.1 1711174747 11.55Retained Earnings 4282514032 21.5 4005112020 27.03 Non - Current Liabilities 6684775166 33.6 1767431029 11.93 Long Term Borrowings- Net Off CurrentMaturity (Secured)19249330659.7 1446600500 9.76Fully Convertible, 5% Dividend, PreferenceShare4100000000 20.6 0 0Liability Of Gratuity & WPPF 307425614 1.5 274419253 1.85Deferred Tax Liability 352416487 1.8 46411276 0.31 Current Liabilities & Provisions 2321451642 11.7260203226717.56

Short Term Borrowings 1451326354 7.3 1461666227 9.86Long Term BorrowingsCurrent Maturity 308820056 1.5 648165841 4.37Creditors & Other Payables 409898122 2.1 263176822 1.78Accrued Expenses 79094905 0.4 81776450 0.55Dividend Payable 1727724 0.0 3169568 0.02Income Tax Payable 70584481 0.3 144077359 0.97 TOTAL LIABILITIES & SHAREHOLDERS EQUITY 19891933422 100.0 14819665441100

BEXIMCO PHARMACEUTICALS LIMITED Profit and Loss Account For The December 31st 2009 Increase Or ( Decrease)During 20092009 Tk. 2008 Tk. Amount PercentNet sales Revenue4868254915 4010167057 858087840 21.4Cost Of Goods Sold(2566206626)(2002871181)563335445 28.1 Gross Profit 2302048289 2007295878 294752411 14.7 Operating Expenses: (1300765878) (1008501030) 292264848 29Administrative Expenses(215192547) (153464283)61728264 40.2Selling, Marketing And DistributionExpenses (1085573331) (855036787) 230536544 27 Profit From Operation 1001282411 998794848 2487563 0.25Other Income 198986379 686510198299869 28885.2Finance Cost (289427992) (249654298)39773694 15.9 Profit Before Contribution To WPPF 910840798 749827060 161013738 21.5Contribution To Workers Contribution / Welfare Fund (43373371) (35706050) 7667321 21.5 Profit before Tax 867467427 714121010

153346417 21.5Income Tax Expense (242727120) (168779737) 73947365 21.5Current Tax0 (173720430) (173720430)Deferred Tax (Expense) / Income (242727120) 4940693 237786427 4812.8 Profit After Tax Transferred ToStatement Of Changes In Equity624740307545341273 79399034 14.6 Earnings Per Share (Of Tk.10 Each)(Adjusted EPS Of 2008) 4.13 3.61 0.52 14.4 Number Of Share Used To Complete EPS151149296 151149296

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