The absence of any income from distributing AstraZeneca’s COVID-19 vaccine led to Beximco’s pre-tax profit dropping by 13% in the first six months of its financial year ending in June 2023. However, profits after tax actually rose slightly when discounting last year’s COVID-19 vaccine impact.
Beximco's income stream from COVID-19 vaccines has now dried up • Source: Shutterstock
A substantial decline in vaccine income, a drop in gross margin and a slight increase in effective tax rate all contributed to a 28% consolidated earnings decline at Beximco Pharmaceuticals Ltd. during Q2 FY2023.
The Bangladeshi firm noted that toward the end of last year that, following the distribution of 8 million doses of...
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