Nectar Lifesciences gets European nod for Punjab plant

Nectar Lifesciences has received European approval for its Cephalosporin APIs manufacturing facility at Derabassi in Punjab.

It has received European cGMP (Current Good Manufacturing Practices) compliance certification for both oral and injectable Cephalosporins followed by inspection by the Hungarian authority – National Institute for Quality and Organizational Development in Healthcare and Medicines, National Institute of Pharmacy - in June, it said Friday.

The certificate is accepted by all European Union health authorities and also in several other countries, the company said.

Nectar Lifesciences shares surged following the announcement. At 11:50 hrs the stock was traded up 5.4% at Rs 22.60 on NSE.

This approval will facilitate exports to the lucrative generic drug markets of Europe and this certification opens up lot of opportunities for Nectar Lifesciences to contract manufacture for European customers, it said.

Its oral and injectable formulations facility at Baddi in Himachal Pradesh has also been successfully inspected by European authorities and the final approval is awaited by end-October 2011, the company said.

Nectar Lifesciences manufacturing facilities have already received approvals from US Food and Drugs Administration (FDA), Japan’s Ministry of Health, Korean FDA and Medical Control Council of South Africa.