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Shilpa Medicare Unit III R&D facility in Bengaluru clears USFDA review

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The US-based drug regulator, United States Food & Drug Administration (USFDA) concluded a remote record review of Shilpa Medicare's Unit III, R&D facility situated at Dabaspet, Bengaluru without any objectionable conditions or observations.

The review was conducted during Monday, 15 November 2021 to Thursday, 18 November 2021. Shilpa Medicare's Unit III Research & Development (R&D) facility in Dabaspet, Bengaluru (Karnataka) is involved in development of formulations (generics, complex generics and innovative products) and providing advanced analytical services.

On a consolidated basis, Shilpa Medicare's net profit slumped 56% to Rs 19.89 crore on 5.9% increase in net sales to Rs 295.27 crore in Q2 September 2021 over Q2 September 2020.

Shilpa Medicare is a global brand in manufacturing and supplying of affordable API and formulation globally in different regulated markets.

Shares of Shilpa Medicare fell 0.70% to close at Rs 560.75 on Thursday, 18 November 2021. The domestic stock market is shut today, 19 November 2021 on account of Guru Nanak Jayanti.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Fri, November 19 2021. 13:42 IST