Atul Bioscience (ABL), a 100% subsidiary of Atul, received Establishment Inspection Report (EIR) from the United States Food and Drug Administration (USFDA) for its manufacturing facility situated in Ambernath, Maharashtra.
The EIR was issued post the last inspection of the facility conducted from 6 May 2024, to 10 May 2024 which concluded with zero FDA 483 observations.The company is engaged in manufacturing and marketing of active pharmaceutical ingredients (APIs), their intermediates and contract manufacturing operations.
Prabhakar Chebiyyam, managing director of ABL, said, This is a significant milestone for our company and a testament to our commitment to maintaining quality, safety and compliance in our manufacturing processes. The successful completion of this inspection reflects the dedication and hard work of our entire team. It strengthens our resolve to deliver high-quality pharmaceutical products consistently and further improve our processes to meet the ever-evolving needs of the global pharmaceutical industry.
Atul has one of the biggest integrated chemical complexes in India with a well-diversified product portfolio of around 900 products and 400 formulations. Geographically, its sales are almost evenly distributed between domestic and exports. It has marketing offices through its subsidiaries in USA, UK, Germany, UAE, China, Brazil, etc.
The companys consolidated net profit had declined 40.15% to Rs 90.32 crore on a 19.74% fall in sales to Rs 1,193.71 crore in Q4 FY24 over Q4 FY23.
The scrip declined 0.31% to close at Rs 7,982.15 on Friday, 9 August 2024.
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