Pharmaceutical company, Ipca Laboratories has received approval from the US Foods and Drugs Administration (USFDA) for two strengths of generic Allopurinol, which is used for the treatment of Hyperuricemia.
In an interview with CNBC-TV18, AK Jain, ED of Ipca Labs said, "We are waiting for the USFDA to inspect our SEZ Indore plant. This product will be produced there so, till the time we get the approval for the plant we will not be able to take the commercial production of this product." The company is hopeful of getting the USFDA nod for its Indore plant in three months time. "The approval of this plant will certainly be a big driver of revenue for the company," he added. For the next financial year the company has a growth target of nearly 18-20%. Below is the verbatim transcript of Jain's interview with Latha Venkatesh and Gautam Broker of CNBC-TV18. Also watch the accompanying video. Q: You have got approval for Allopurinol, two strengths of it have been approved by the USFDA. What does this mean in terms of revenues to you? A: We are waiting for the US FDA to inspect our SEZ Indore plant. This product will be produced there so, till the time we get the approval for the plant we will not be able to take the commercial production of this product. Right now, we have few more approvals already in hand. We are awaiting inspection and hopefully that should happen in three months time. Q: If you already have product approvals can't they be produced in any of your other labs or you donDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
