IOL Chemicals & Pharmaceuticals surged 7.76% to Rs 441.05 after China's National Medical Products Administration (NMPA) approved the company's Fenofibrate drug.
The NMPA's green light paves the way for IOL Chemicals to export its Fenofibrate to the Chinese market. The drug is used to treat high cholesterol and triglyceride levels in the blood.IOL Chemicals and Pharmaceuticals is a pharma API and speciality chemicals manufacturer. Its consolidated net profit declined 57.36% to Rs 27.62 crore on 14.18% fall in net sales to Rs 503.92 crore in Q4 March 2024 over Q4 March 2023.
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