Shilpa Medicare share price rose in the early trade on October 4 after the company's arm received certification from a European medical agency.
At 09:24am, Shilpa Medicare was quoting at Rs 812.75, up Rs 6.85, or 0.85 percent, on the BSE.
The company's 100 percent subsidiary, Shilpa Pharma Lifesciences received a certificate of suitability (CEP) from EDQM (European Directorate for the Quality of Medicines & Healthcare) for API, Desmopressin.
Desmopressin is a synthetic peptide manufactured by Shilpa Pharma Lifesciences through solid-phase synthesis.
Desmopressin helps to reduce frequent urination and excessive thirst and is used to treat central diabetes insipidus and bedwetting.
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“We at Shilpa have always been investing in challenging chemical synthesis. With unwavering commitment and belief in our technical capabilities, we have invested in developing a versatile peptide portfolio over the past few years and Desmopressin is the first peptide molecule to receive CEP from the European Regulators," said Mr. Keshav Bhutada, Executive Director- Shilpa Pharma Lifesciences.
"This CEP showcases our proficiency in quality-oriented development as well as commercial manufacturing capabilities that meet the expectations of global quality standards paving the way for more such products to follow”, he added.
In August, the company announced a successful outcome in Phase 3 studies for SMLNUD07, a drug known as NorUDCA. This medication is designed to treat patients with Nonalcoholic Fatty Liver Disease (NAFLD).
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