Hot Pursuit     19-Jun-23
Gufic Biosciences gains on receiving NMPA approval for Prilocaine API
Gufic Biosciences advanced 2.41% to Rs 238.15 after the company received an approval from National Medical Products Administration (NMPA), China for its product, Prilocaine active pharmaceutical ingredient (API).
The Prilocaine is an amide-type local anaesthetic of fast onset and intermediate duration of action. This approval shall help commercialization of the said product in China and explore Chinese market.

Prilocaine offers a significantly greater duration and safety margin without a vasopressor. Hence, addition of epinephrine is not necessary to prolong the duration of action, which can be an advantage when epinephrine is contraindicated.

Gufic BioSciences is principally engaged in manufacturing and marketing of active pharmaceutical ingredients, generic pharmaceuticals and related services.

The company's standalone net profit declined 10.6% to Rs 18.11 crore on 6.7% increase in net sales to Rs 173.04 crore in Q4 FY23 over Q4 FY22.

Previous News
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  Gufic Biosciences gains on receiving NMPA approval for Prilocaine API
 ( Hot Pursuit - 19-Jun-23   10:32 )
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 ( Corporate News - 12-Oct-23   15:15 )
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