Shilpa Medicare rises after marketing partner launches pemetrexed formulation in US

Shilpa Medicare advanced 1.61% to Rs 549.15 after the company informed that its marketing partner, Amneal Pharmaceuticals, has launched 'PEMRYDI RTU' (Pemetrexed injection), a ready-to-use pemetrexed formulation, in the US market.

Pemetrexed injection is used as a drug, in the treatment of non-small cell lung cancer in combination with other chemotherapy agents. It is also indicated in the treatment of mesothelioma in combination with cisplatin.

"PEMRYDI RTU is a novel ready-to-use injection which eliminates the need for refrigeration or reconstitution and dilution for administration to the patient. This offers hospitals and oncology clinics a new, value-added presentation that should improve pharmacy efficiency by eliminating preparation steps and freeing up refrigerator space.

According to IQVIA, U.S. annual sales for pemetrexed for the 12 months ended February 2024 were $287 million.

Raichur-based Shilpa Medicare is a vertically integrated, manufacturer and distributor of quality drugs to global markets; specializing in the oncology therapeutic segment and introducing novel drugs focusing on patient convenience and compliance.

The companys consolidated net profit stood at Rs 4.58 crore in Q3 FY24 as compared with net loss of Rs 6.62 crore posted in Q3 FY23. Net sales stood at Rs 286.48 crore in Q3 FY24, up 9.1% year on year.

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