Shilpa Medicare rallied 3.53% to Rs 893.90 after the company's 100% subsidiary, Shilpa Pharma Lifesciences received certificate of suitability (CEP) from EDQM (European Directorate for the Quality of Medicines & Healthcare) for API, Octreotide.
Octreotide, a synthetic peptide manufactured by Shilpa Pharma Lifesciences through solid-phase synthesis, is used in the treatment of conditions such as acromegaly, severe diarrhea/flushing episodes associated with metastatic carcinoid tumors, and profuse watery diarrhea associated with Vasoactive Intestinal Peptide (VIP)-secreting tumors.This approval marked Octreotide as the second peptide molecule in Shilpas peptide portfolio. The CEP highlighted the companys expertise and commitment to quality-oriented development and commercial production, meeting global quality standards.
Meanwhile, Shilpa Pharma Lifesciences also received certificate of suitability (CEP) from EDQM (European Directorate for the Quality of Medicines & Healthcare) for API, Nifedipine.
Nifedipine is in a class of medications called calcium-channel blockers in the dihydropyridine subclass. Nifedipine is used as an antihypertensive and as an anti-anginal medication. It lowers blood pressure by relaxing the blood vessels so the heart does not have to pump as hard. It controls chest pain by increasing the supply of blood and oxygen to the heart.
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 drug maker's consolidated net profit soared 1042.68% to Rs 17.94 crore on a 9.85% rise in revenue from operations to Rs 343.80 crore in Q2 FY25 over Q2 FY24.
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