Drug maker Marksans Pharma today said it has received certificate of suitability for its active pharmaceutical ingredient Ranitidine Hydrochloride, used for reducing gastric acid secretion, from European Directorate for the Quality of Medicines and Healthcare (EDQM).
The certificate will boost its business in the European market as it is recognised by 35 signatory states of the European Pharmacopoeia Convention and by the European Union, the company said in a filing to the Bombay Stock Exchange.
"With the grant of the certificate of suitability for Ranitidine Hydrochloride drug substance by EDQM, the European markets have opened for access for the company's Active Pharmaceutical Ingredients business," the filing added.
Further, the company said it is a significant achievement as the company is focusing on the regulated market for its growth. Marksans's recently-acquired subsidiary RelonChem, also markets Ranitidine formulation into the regulated markets of Europe, including the UK.