Shilpa Medicare informed that its 100% subsidiary, Shilpa Pharma Lifesciences received certificate of suitability (CEP) from EDQM (European Directorate for the Quality of Medicines & Healthcare) for API, Desmopressin.
Desmopressin is synthetic peptide manufactured by Shilpa Pharma Lifesciences through solid phase synthesis. Desmopressin helps to reduce frequent urination and excessive thirst. This is used to treat central diabetes insipidus and bedwetting.Keshav Bhutada, Executive Director- Shilpa Pharma Lifesciences said, We at Shilpa have always been investing in challenging chemical synthesis. With unwavering commitment and belief in our technical capabilities, we have invested in developing a versatile peptide portfolio over past few years and Desmopressin is the first peptide molecule to receive CEP from the European Regulators. This CEP showcases our proficiency in quality-oriented development as well as commercial manufacturing capabilities that meet the expectations of global quality standards paving way for more such products to follow.
Raichur-based Shilpa Medicare is a vertically integrated, manufacturer and distributor of quality drugs to global markets; specializing in the oncology therapeutic segment and introducing novel drugs focusing on patient convenience and compliance.
The company reported consolidated net profit of Rs 14.06 crore in Q1 FY25, steeply higher than Rs 1.18 crore posted in Q1 FY24. Revenue from operations grew by 12.4% YoY to Rs 292.51 crore in the quarter ended 30 June 2024.
The scrip slipped 4.92% to end at Rs 793.60 on Thursday, 3 October 2024.
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