Sequent Scientific hits 52-week high after receiving prequalification approval for Albendazole

Sequent Scientific rallied 9.91% to Rs 172.95 after the company has recieved prequalification approval (PQ) from World health Organisation (WHO) for Albendazole, Active Pharmaceutical Ingredient (API).

This is in partnership with Mepro Pharmaceuticals, who have successfully developed and commercialised the Albendazole Chewable formulation from its WHO PQ approved plant, using its API. Mepros Chewable formulation is the first global approval of its kind by the WHO PQ.

Albendazole is a vital medication used to treat a range of parasitic infections, including tapeworm, roundworm, and hookworm infestations, affecting millions globally, particularly in low and middle income countries.

Rajaram Narayanan, MD & CEO of Sequent Scientific, said, The WHO prequalification approval validates our manufacturing capabilities and reinforces our dedication to providing high-quality, affordable medicines to those in need worldwide. By leveraging our extensive distribution network and strategic partnerships, the company is poised to make a meaningful impact on health outcomes on a global scale.

 

Sequent Scientific is a global pharmaceutical company specializing in Animal Health. With a strong international presence, the company operates in both API and formulation domains. Their focus lies in addressing unmet market needs for livestock, poultry, and companion animals.

The company reported net profit of Rs 6.51 crore in Q1 FY25 as compared with net loss of Rs 34.85 crore in Q1 FY24. Net sales jumped 17.1% YoY to Rs 390.21 crore during the quarter.

The counter hit 52-week high at Rs 175 in intraday today.

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