Shilpa Medicare shares rise 6% on CEP approvals from EDQM

Shilpa Medicare's shares have gained a whopping 180 percent on a year-to-date basis, outperforming ht Nifty 50 by a huge margin which gained 9 percent during the same timeframe.

Shares of Shilpa Medicare climbed over 6 percent in early trade on November 19 following the announcement that its subsidiary, Shilpa Pharma Lifesciences, received two Certificates of Suitability (CEP) from the European Directorate for the Quality of Medicines & Healthcare (EDQM).

At 1.15 PM, shares of Shilpa Medicare traded over 3 percent higher at Rs 892. The stock has gained a whopping 180 percent on a year-to-date basis, outperforming ht Nifty 50 by a huge margin which gained 9 percent during the same timeframe.

The first CEP was, received on November 18, was for Octreotide, a synthetic peptide manufactured via solid-phase synthesis. Octreotide is used to treat acromegaly, severe diarrhoea, and other conditions associated with certain tumors. Octreotide is the second peptide molecule in Shilpa's peptide portfolio.

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The second CEP approval, received on November 19, was for Nifedipine, an active pharmaceutical ingredient (API) classified as a calcium-channel blocker. Nifedipine is widely used to manage hypertension and angina by relaxing blood vessels, thereby reducing heart strain and improving oxygen flow to the heart.

"The CEP showcases our expertise and commitment to quality-oriented development and commercial production, which meets the expectations of global quality standards," the company said.

Founded in 1987, Shilpa Medicare specialises in producing niche active pharmaceutical ingredients (APIs), intermediates, and formulations. The company also provides contract research and manufacturing services to select clients.

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