Moneycontrol Bureau
Shares of lOL Chemicals and Pharmaceuticals climbed 11.2 percent intraday Thursday after the company successfully raised Ibuprofen manufacturing facility at its Ludhiana plant.
"The company completed its de-bottlenecking/re-engineering project for its Ibuprofen manufacturing facilities at Barnala with project cost of Rs 24 crore and commenced the enhanced production from today," the APIs (active pharmaceutical ingredient) producer said in its filing.
Post this completion, capacity of Ibuprofen plant increased to 6,200 tonne per annum. With this it becomes world's only largest backward integrated Ibuprofen producer with current installed capacity, manufacturing all intermediates stages and key starting materials at one location.
The company says this facility approved by US Food & Drug Administration, ANVISA, EDQM, WHO and MOH Japan. It exports Ibuprofen in Europe, Latin America, Middle East and USA.
At 11:27 hours IST, the scrip of IOL Chemicals and Pharmaceuticals was quoting at Rs 92.75, up Rs 7.70, or 9.05 percent on the BSE.Posted by Sunil Shankar Matkar
Discover 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!
