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Hot Pursuit
01-Dec-22
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Shilpa Medicare spurts after Telangana facility gets Health Canada GMP approval
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Shilpa Medicare surged 7.01% to Rs 301.30 after the company's finished dosage form manufacturing facility, Unit IV, situated at Pharma SEZ, Jadcherla, Telangana received Health Canada GMP approval.
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The inspection was conducted from 12 September 2022 to 16 September 2022. The facility is involved in manufacturing, packaging, labelling and testing of finished dosage forms (sterile injections and oral solids) for the treatment of cancer and adjuvant therapy.
This GMP approval will allow the company for the commercial distribution of products in Canada and enable new application submissions to Health Canada. The approval reaffirms the company's focused efforts to maintain the GMP status up to the standards of global regulatory authorities.
Shilpa Medicare is presently dealing in high-quality Active Pharmaceutical Ingredients (APIs), Intermediates, Formulations, New Drug Delivery Systems, Peptides / Biotech products and Specialty Chemicals etc.
The company reported consolidated net loss of Rs 18.66 crore in Q2 FY23 as against net profit of Rs 19.96 crore in Q2 FY22. Revenue from operations declined 11% to Rs 262.91 crore in Q2 FY23 as compared to Rs 295.27 crore in Q2 FY22.
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