Punjab-based IOL Chemicals and Pharmaceuticals today said it has received nod from the US health regulator for its Ibuprofen manufacturing facility in Barnala, Punjab.
The company has received establishment inspection report from the US Food and Drug Administration (USFDA) for the Barnala-based facility, IOLCP said in a filing to the BSE.
"Post this approval, IOLCP will be able to garner additional business for its flagship Iburofen in world's largest pharma market--USA," it added.
This will result in higher value added export turnover and higher margins, the company said.
Ibuprofen is used to treat minor aches and pains caused by common cold, headaches, toothaches, back or muscle aches.
The Barnala facility has already been approved by various regulatory agencies including Brazil's Anvisa, WHO and MOH, Japan, it added.
Shares of IOLCP were trading at Rs 110.20 apiece on the BSE, up 18.75 per cent from previous close.
