Shilpa Medicare jumped 7.17% to Rs 255 after the company said that its Bengaluru facility has been registered with Ministry of Health, United Arab Emirates for manufacture and testing of Orodispersible films and Transdermal systems.
This registration enables company to register the products (Orodispersible films and Transdermal systems) in UAE for commercialization.
The Bengaluru facility is backed up with strong research and development of Orodispersible films and transdermal technologies. The good manufacturing practice (GMP) facility is equipped with machinery for the needs of Global commercial requirements. The facility has already been issued GMP by UK Medicines and Healthcare products Regulatory Agency (MHRA).
The facility also manufactures dietary supplements in orodispersible films and was registered with the United States Food and Drug Administration (USFDA) Food Facility registry. The facility is actively exporting dietary supplements to US Market.
Shilpa Medicare is a global brand in manufacturing and supplying of affordable API and formulation globally in different regulated markets.
The company reported a consolidated net loss of 6.62 crore in Q3 FY23 as against a net profit of Rs 9.57 crore posted in Q3 FY22. Net sales declined 3.6% year on year to Rs 262.50 crore during the qurter.
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