Sequent Scientific up 9% on EUGMP nod for its tablets dosage form in Turkey

Shares of Sequent Scientific moved higher by 9 per cent to Rs 293 on the BSE in intra-day trade on Thursday amid heavy volumes after the company announced the EUGMP approval for its tablets dosage manufacturing line in Turkey. The trading volumes on the counter jumped over four-fold, with a combined 5 million equity shares having changed hands on the NSE and BSE till 02:03 pm.

With over 120 product registrations, Sequent is the third-largest player in the Turkish ruminant market with a consolidated market share of around 10 per cent, operating through its 100 per cent subsidiaries of Provet and Topkim. The company has already embarked upon significant expansion in Turkey to meet the growing requirements of the local market along with leveraging the sites for European and other strategic markets.

Sequent Scientific in a press release on Wednesday said the approval was further complemented by the successful renewal of the EUGMP license for eight other manufacturing lines for various dosage forms including beta-lactam, non-beta lactam, terminal sterilisation, mastitis, powder beta-lactam, aerosol, pesticide and solids in Turkey.

In addition to the EUGMP, the manufacturing lines in Turkey also hold Good Manufacturing Practice (GMP) certificates from Turkish, Saudi, Ethiopian and Sudanese authorities. With these approvals, Alivira now has multiple EUGMP approved facilities globally, allowing it to better serve the needs of its customers in the regulated markets of Europe, and access to alternative manufacturing sites to ensure the supply of high-quality products, the company said.

Sequent Scientific operates in the domains of Animal Health (Alivira) and Analytical Services. The company has eight manufacturing facilities based in India, Spain, Germany, Brazil and Turkey with approvals from global regulatory bodies including USFDA, EUGMP, WHO, TGA among others. Its Vizag facility is India’s first and only USFDA approved facility for veterinary APIs.