IOL Chemicals And Pharmaceuticals

Stock Market highlights on Tuesday, July 02, 2024: The BSE Sensex ended 35 points lower at 79,441, after hitting a record high of 79,856. Bank and midcap stocks crumbled under selling pressure.

The stock price jump came after the company got China's drug regulatory authority NMPA's nod for cholesterol drug Fenofibrate, allowing the company to export it to the Chinese market

Pantoprazole is used for heartburn, acid reflux and gastro-oesophageal reflux disease (GORD)

According to the brokerage, prices of APIs such as Paracetamol, Azithromycin, Montelukast, and Meropenem, have all declined in the range of 10-30 per cent over the last one year

Till 01:49 PM, a combined 9.3 million equity shares, representing 15.85 per cent of total equity of IOL Chemicals, had changed hands on the NSE and BSE

IOL Chemicals and Pharmaceuticals on Monday said it has received certificate of suitability from EDQM to supply Pantoprazole Sodium Sesquihydrate API in European markets. The European Directorate for the Quality of Medicines & HealthCare (EDQM) is a mandatory certification for distribution of any API/ pharma products in Europe. Pantoprazole Sodium Sesquihydrate, an active pharmaceutical ingredient (API), is proton pump inhibitor used in drugs to suppress the gastric acid secretion. "The company started production of Pantoprazole Sodium Sesquihydrate in Q3 FY 2020 at its Punjab-based facility. "With this CEP (certificate of suitability) certification, the company will now be able to export it to entire Europe. IOL currently has a total capacity of producing 240 TPA of Pantoprazole Sodium Sesquihydrate," a release said. IOL is the world's largest producer of Ibuprofen API with 33 per cent market share globally. The company has 13 plus APIs in its portfolio such as Metformin ...

IOL Chemicals and Pharmaceuticals on Thursday said it has received regulatory approval from the European Union for the supply of a chemical, ethyl acetate. IOL started production of ethyl acetate in 1996 and exports it to more than 40 countries. Ethyl acetate is primarily used as a solvent and diluent. It is also used in nail varnish remover, circuit board cleaners, paints and perfumes. In a statement, the company said it has received the REACH certification, which will open a window to IOL to export ethyl acetate across the European market. The REACH is an EU regulation adopted to strengthen the protection of human health and the environment. The law aims at boosting the competitiveness of the EU chemicals sector, it said. IOL also announced the appointment of REACHLaw as their only representative (OR) to assist the company in broadening arms and expanding its territory in European nations. IOL said it has the largest single-location plant of ethyl acetate in India with a product

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As part of de-risking their business, they have started reducing the share of ibuprofen in their overall turnover, and add more popular products to the portfolio

For H1FY22, the company's profit after tax declined 62 per cent year on year to Rs 97.80, due to higher operational cost.

Britannia's stock has shown signs of bottoming out

The stock was up 5 per cent to Rs 207 per share on the BSE, trading at its highest level since January 8, 2008.