Parabolic Drugs gets EU nod for antibiotic molecule

Parabolic Drugs today said it has received certificate of suitability (COS) from European Union for its antibiotic molecule 'Cefixime'.

"Cefixime is one of the top selling products for the company and the COS would enable the company to expand its presence in regulated markets," Parabolic Drugs said in a statement.

The COS is recognised by various signatory states of the European Pharmacopoeia Convention, the European Union and few non-member countries, it said.

Cefixime, an oral third generation cephalosporin antibiotic, has a world market size of $839 million (September 2010, IMS) growing at 20.9% annually, it added.

"The molecule is growing across the world for its basic use in the treatment of gonorrhea, tonsilitis and pharyngitis. The European market contributes to over 18% in the total sales for this molecule," it said.

The company has a European GMP certified cephalosporin manufacturing site at Derabassi, with an annual production capacity over 700 tonne.

Meanwhile, Parabolic Drugs scrip was trading 2.57% up at Rs 47.90 a share on BSE in the afternoon today.