Sequent Scientific rose 2.09% to Rs 173.45 after the company announced the launch of Citramox LA 150 mg/ml suspension injection for cattle and pigs in 10 European countries, including the key markets of Western Europe.
The product has recently received approval through its Spanish subsidiary Laboratorios Karizoo, S.A., and will be the first Long-Acting injectable to be offered by the company in Europe. This new approval for SeQuent Scientific builds on the recent approvals of Tulazzin (Tulathromycin) and Halofusol (Halofuginone) in Europe. All these approvals have been received within 12 months of filing.
Citramox is the first generic version of Vetrimoxin LA (Innovator: Ceva Animal Health Inc) to be approved and launched in Europe, which is an effective antibiotic indicated for the treatment of respiratory infections caused by Mannheimia haemolytica and Pasteurella multocida susceptible to amoxicillin in cattle and pigs.
Citramox formulation has good homogeneity and high fluidity profile, which along with its user-friendly plastic vial packaging and withdrawal times offers superior value to farmers. The market size in Europe for Amoxicillin Long-Acting products is estimated to be 20 million euros.
Sequent Scientific's consolidated net profit skid 12.7% to Rs 21.36 crore on a 21.8% surge in net sales to Rs 346.27 crore in Q2 September 2020 over Q2 September 2019.
Sequent Scientific is the largest Indian pure-play animal healthcare company with global operations. Sequent provides animal health Active Pharmaceutical Ingredients (API), formulations, and analytical services in over 100 countries, with more than 1,700 employees and manufacturing operations in India, Spain, Turkey, Germany and Brazil.
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