IPCA Laboratories received approval from USDFA
IPCA Laboratories jumped 4.42% after the company said it has received approval from US Food and Drug Administration for its oral solid dosage formulations manufacturing facility situated at Indore SEZ in Madhya Pradesh.
IPCA Laboratories said this approval from the US Food and Drug Administration (USFDA) will enable the company to commercialize more oral solid dosage formulations in the US market.
IPCA Laboratories is a fully backward integrated pharmaceutical company with a strong thrust on exports. It manufactures active pharmaceutical ingredients (APIs), which it produces right from the basic stage. IPCA is also one of the largest suppliers of these APIs and their intermediates world over. IPCA Laboratories' net profit rose 30.8% to Rs 76.61 crore on 16.7% growth in net sales to Rs 553.11 crore in fourth quarter ended March 2012 over March 2011. The company announces its first quarter results on 31 July 2012.