Shilpa Medicare spurts as arm files DMF with USFDA

Shilpa Medicare jumped 6.36% to Rs 470.75 after the firm said that its wholly owned subsidiary, Shilpa Biologicals has filed its first Drug Master File (DMF) of recombinant Human Albumin 20% with the United States Food and Drug Administration.

The drug maker said that this recombinant has been developed and is a patented recombinant Human Albumin 20% process which is completely-environment friendly, consistent high-quality product, scalable to massive scales and is cost competitive.

Recombinant Human Albumin 20% targets to fulfil growing demand of human serum albumin to deliver current and growing market demand, it added.

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 company reported a consolidated net profit of Rs 24.50 crore in Q4 FY24 as against a net loss of Rs 8.04 crore posted in Q4 FY23. Revenue grew by 10.7% year on year to Rs 219.69 crore during the quarter.

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