Shilpa Medicare rose 1.25% to Rs 581.50 after the company received Drugs Controller General of India's (DCGI's) approval for 2-Deoxy-2-Glucose (bulk & oral powder).
The bulk is manufactured by Shilpa Medicare, API facility in Raichur,' Karnataka. The oral powder is manufactured by its subsidiary, Shilpa Therapeutics, facility in Hyderabad, Telangana.
2-Deoxy-2-Glucose oral powder is approved for the treatment of adjunct therapy in moderate to severe COVID-19 patients. The product will be available with a brand name '2-DGSHIL'.
Shilpa Medicare is a global brand in manufacturing and supplying of affordable API and formulation globally in different regulated markets.
On a consolidated basis, Shilpa Medicare's net profit slumped 77.35% to Rs 7.83 crore on 5.44% decrease in revenue from operations to Rs 208.03 crore in Q4 March 2021 over Q4 March 2020.
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