Highnoon Laboratories Limited (HINOON), a Pakistani pharmaceutical company, has announced a strategic partnership with Beximco Pharmaceuticals Limited, a leading Bangladesh-based drug manufacturer, to collaborate on the distribution and marketing of specialised pharmaceutical products in Pakistan.
The listed pharmaceutical disclosed the development in its notice to the Pakistan Stock Exchange (PSX) on Tuesday.
“The company has entered into a strategic partnership with Beximco Pharmaceuticals Limited, a leading Bangladesh-based pharmaceutical company having state-of-the-art manufacturing facilities, accredited by the regulatory authorities of the USA, Australia, the European Union, Canada, and Brazil,” read the notice.
HINOON shared that a memorandum of understanding (MoU) has been inked between the two companies to collaborate for the distribution and marketing of specialised pharmaceutical products in Pakistan, with the focus on high-burden therapeutic areas including respiratory, diabetes, and cardiovascular diseases.
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“Through this partnership, the company will bring newer therapies, dosage forms and delivery systems for the ease of use and better clinical results for patients and improve access to the advanced medications.
This strategic alliance will make a significant contribution to the recent expansion of trade relations and economic cooperation between Pakistan and Bangladesh,“ read the notice.
Beximco Pharmaceuticals Ltd. is an emerging generic drug player committed to providing access to affordable medicines. It currently focuses on building presence in many emerging and developed markets around the world.
Meanwhile, Highnoon Laboratories Limited was incorporated in Pakistan as a private limited company in 1984 and was converted into a public limited company in 1995.
The principal activity of the company is the manufacturing, import, sale and marketing of pharmaceutical and allied consumer products.
