Shilpa Medicare shares rise 3% on receiving CEP for Desmopressin; details

Shilpa Medicare share price surged after the company said that its arm, Shilpa Pharma Lifesciences, has received certificate of suitability (CEP) from EDQM for API, Desmopressin

Shilpa Medicare share price: Shares of pharmaceutical company Shilpa Medicare gained up to 3.13 per cent to hit an intraday high of Rs 831.15 per share on Friday, October 4, 2024. 

Shilpa Medicare share price surged after the company said that its arm, Shilpa Pharma Lifesciences Limited, has received certificate of suitability (CEP) from EDQM (European Directorate for the Quality of Medicines & Healthcare) for active pharmaceutical ingredient (API), Desmopressin

Desmopressin helps to reduce frequent urination and excessive thirst. This is used to treat central diabetes insipidus and bedwetting. 

In an exchange filing, Shilpa Medicare said, “This is to inform you that the Shilpa Medicare Limited’s 100 per cent subsidiary, Shilpa Pharma Lifesciences Limited received certificate of suitability (CEP) from EDQM (European Directorate for the Quality of Medicines & Healthcare) for API, Desmopressin.”

 

Desmopressin is a synthetic peptide manufactured by Shilpa Pharma Lifesciences through solid phase synthesis, the company said. 

Keshav Bhutada, Executive Director- Shilpa Pharma Lifesciences Limited 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 the 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.”

Shilpa Medicare background

Shilpa Medicare, established in 1987, engages in manufacturing niche active pharmaceutical ingredients (APIs), intermediates, and formulations. The company also offers contract research and manufacturing services to various clients. Its formulation portfolio includes 16 injectable dosage forms, 19 oral solid dosage forms under the SML brand, and 13 formulations developed through its wholly owned subsidiary, Shilpa Therapeutics.

Shilpa Medicare share price history 

Shilpa Medicare shares have risen over 65 per cent in the past six months while they have soared about 156 per cent this year-to-date (Y-T-D)

The 52-week range of Shilpa Medicare share is Rs 296.45-959.95.

At 10:10 AM, shares of Shilpa Medicare were trading 2.09 per cent higher at Rs 822.75 per share. In comparison, BSE Semsex was trading flat at 82,487.24 levels.