Granules India gains as USFDA finds no NDMA impurities

Granules India rose 2.39% to Rs 178 after the drug maker said that the US drug regulator did not detect cancer-causing N-Nitrosodimethylamine (NDMA) in the company's API and finished dosage tablets.

USFDA has tested samples from a few lots of the company's API (active pharmaceutical ingredient) and finished dosage tablets and it "did not detect NDMA."

NDMA is classified as a probable human carcinogen (a substance that could cause cancer). It is a known environmental contaminant typically found in water and foods, including meats, dairy products and vegetables.

Granules India is a pharmaceutical manufacturing company. The company produces Finished Dosages (FDs), Pharmaceutical Formulation Intermediates (PFIs) and Active Pharmaceutical Ingredients (APIs). The company has a total of 27 ANDA approvals from US FDA (25 Final approvals and 2 tentative approvals).

 

On a consolidated basis, Granules India's net profit rose 6.2% to Rs 64.03 crore on 11.4% rise in net sales to Rs 703.96 crore in Q3 December 2019 over Q3 December 2018.

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