Shilpa Medicare share price broke five-day losing streak, gaining nearly 2 percent in the opening trade on May 5 after the company's Dharwad facility received EU GMP clearance.
At 09:24am, Shilpa Medicare was quoting at Rs 642, up Rs 11.30, or 1.79 percent, on the BSE.
Company's biologics arm Shilpa Biologics site at Dharwad, Karnataka, has received its European GMP certification for manufacturing of test batches based on the inspection between February 18-20, 2025, conducted by the competent authority of Austria.
The inspection was closed with Zero observations.
The inspection covering the sterile drug product filling and packaging line, quality systems and quality control laboratories concluded compliance with the principles and guidelines of Good Manufacturing Practice.
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In March, company subsidiary, Shilpa Biologicals, entered into a binding term sheet with Switzerland-based mAbTree Biologics AG for the development, manufacture, marketing, and sale of a new biological entity (NBE).
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The share touched a 52-week high of Rs 959.95 and a 52-week low of Rs 419.10 on 18 September, 2024 and 04 June, 2024, respectively.
Currently, the stock is trading 33.12 percent below its 52-week high and 53.19 percent above its 52-week low.
The market capitalisation stands at Rs 6,278.18 crore.
In the week ended May 2, the company share price declined by more than 7 percent, after reported gains in the previous three consecutive weeks.
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