Bajaj Healthcare rose 3.07% to Rs 906.95 after the drug maker announced starting commercial production of Nimesulide API at Tarapur unit in Maharashtra.
The company has received approval from FDA Maharashtra (India), to manufacture and market Nimesulide API as approved medication for pain relief and prevention of fever in India and will commence its commercial production from tomorrow (3 September) onwards.In FY21, the company acquired stressed assets from the Saraswat Cooperative Bank under SARFAESI Act, 2002, which comprises of three manufacturing units and one engineering unit at MIDC, Tarapur. It has installed capacity of 111 MT per month.
The firm has received an approval to start its commercial production in one of the manufacturing unit at Tarapur.
Bajaj Healthcare a leading manufacturer of APIs, intermediates and formulations established in the year 1993. The company reported 25.7% rise in net profit to Rs 19.21 crore on a 32.8% increase in revenue from operations to Rs 185.68 crore in Q1 FY22 over Q1 FY21
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