Sequent Scientific stock hits 52-week high on WHO prequalification nod

Sequent Scientific shares hit 52-week high: Shares of the pharmaceutical company gained as much as 11.21 per cent to hit a fresh 52-week high of Rs 175 per share on Tuesday, August 20, 2024. 

The rise in the share price came after the company announced that it has received World Health Organisation (WHO) prequalification approval for Albendazole Active Pharmaceutical Ingredient (API). Albendazole is used to treat certain infections caused by worms such as pork tapeworm.

“This is in partnership with Mepro Pharmaceuticals Private Limited, who have successfully developed and commercialised the Albendazole Chewable formulation from its WHO PQ approved plant, using our API. Mepro’s Chewable formulation is the first global approval of its kind by the WHO PQ,” Sequent Scientific said. 

 

Mepro Pharmaceuticals is a privately-owned pharmaceutical company with over 4 decades of experience in delivering quality healthcare to highly regulated markets including UK/EU/Canada, Australia amongst others. Headquartered in Mumbai, India, they specialise in the development and manufacturing of niche and technically complex pharmaceutical products across its 4 manufacturing facilities.

"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,” said Rajaram Narayanan, MD & CEO of Sequent Scientific Limited.

Sequent Scientific Limited is a prominent animal health company in India, reporting a consolidated turnover of Rs 1,369 crore for FY24.

The company offers an extensive range of animal health products, including finished dose formulations, active pharmaceutical ingredients (APIs), and analytical services. 

Operating primarily within the pharmaceuticals segment, Sequent Scientific Limited has a global presence through its subsidiaries, with operations in over 90 countries and 7 manufacturing facilities, serving customers worldwide.

The market capitalisation of Sequent Scientific is Rs 4,184.24 crore, according to Bombay Stock Exchange (BSE). The company falls under the BSE SmallCap category.

The 52-week low of Sequent Scientific stock is Rs 86.03 per share. 

At 9:49 AM, shares of Sequent Scientific were trading 6.55 per cent higher at Rs 167.65 per share. By comparison, BSE Semnsex was trading 0.36 per cent higher at 80,714.30 levels.