Bangladesh's largest pharmaceutical exporter, Beximco Pharmaceuticals, has obtained approval from the health ministries of the GCC countries to start exports to the region, a report said.

GCC's total pharma market, estimated to be worth over Dh14.7 billion ($4 billion) is shared by European and American MNCs, according to the Gulf News.

Beximco Pharma won the GCC approval after a GCC inspection team visit which found its facilities in Bangladesh as meeting the global Good Manufacturing Practice (GMP) standards.

The company, which started operations in 1976, manufactures generic pharmaceutical formulations, active pharmaceutical ingredients and intravenous fluids.