Beximco Pharma rejects allegations of corruption

Beximco Pharma rejects allegations of corruption

Beximco Pharmaceuticals Ltd. (Beximco Pharma) is deeply concerned and disappointed by the misleading and defamatory news published on March 17 and 18, 2025 in several news portals, dailies and TV channels. These reports alleged Company involvement in the corruption during the procurement of Covid-19 vaccines. The Company rejects these baseless allegations and protests the sensationalized and slanderous headlines, that not only tarnished corporate reputation as a globally known pharmaceutical manufacturer and exporter but also confused thousands of its valued shareholders, especially many foreign investors who currently hold more than 32% of company shares.
Beximco Pharma was involved with the procurement of 15 million (1.5 crore) doses of Oxford/AstraZeneca vaccine (Covishield) from Serum Institute of India (SII), the world largest vaccine producer, costing USD 60 million (BDT 480 crore) and Beximco Pharma received USD 1 (one) per dose totaling USD 15 million (BDT 120 crore) for supplying the same. Thus, the total cost incurred for 15 million Covishield doses stood at BDT 600 crore while several media and news portals clearly attempted to malign Beximco Pharma with headlines saying the company is being investigated for BDT 22,000 crore corruption in connection to Covid-19 vaccine purchase.
The reports claimed that The Anti-Corruption Commission (ACC) has decided to launch an inquiry against a syndicate involving Salman F Rahman, Beximco Pharma and others over alleged embezzlement of BDT 22,000 crore government funds during the Covid-19 vaccine procurement process. It further alleged that the government bypassed competitive bidding and negotiations by pursuing a single source for vaccine procurement.