This pharmaceutical business received approval to build a new plant to manufacture its well-known medicine 'Ibuprofen'

This pharmaceutical business received approval to build a new plant to manufacture its well-known medicine 'Ibuprofen'

Indian Market
by 5paisa Research Team Last Updated: 2022-11-01T18:01:07+05:30

Solara obtained CEP certification so that its Vishakhapatnam facility may produce ibuprofen.

As of today on the BSE, Solara Active Pharma Sciences is trading at Rs 415.00, up 17.35 points or 4.36% from its previous closing price of Rs 397.65. The stock's opening price was Rs 397.40, and it has since reached highs of Rs 419.65 and lows of Rs 392.45. Today, 10241 shares have been traded thus far on the counter. The 52-week high of Rs 1385.00 was reached on November 10, 2021, and a 52-week low of Rs 323.65 was reached on June 20, 2022.

The European Directorate for the Quality of Medicines (EDQM) has granted Solara Active Pharma Sciences (Solara) the first worldwide regulatory licence for its brand-new, cutting-edge, multipurpose API manufacturing plant in Vishakhapatnam, Andhra Pradesh, for the production of Ibuprofen API.

With this crucial certification, Solara now has CEP permission for two Ibuprofen API manufacturing plants, the other of which is a dedicated site in Puducherry, India. For its Vizag facility, Solara also anticipates receiving a number of other foreign regulatory clearances, including the USFDA.

The business is a global, R&D-focused, pure-play Active Pharmaceutical Ingredients (API) manufacturer and developer that also provides contract manufacturing and development services to other international businesses. The company currently has more than 60 commercial APIs and more than 10 APIs in development in high-value product sectors. The company keeps putting its emphasis on expanding its customer base for high-volume products, CIPs, and backward integration. It also emphasises finding new markets for current items and developing tools for more tightly controlled market sales.

The company's sales in Q1FY23 were Rs 330 crore. In the June quarter, the operating profit was Rs 4 crore.

The promoters' ownership stake in the company was 40.40%, compared to institutions' 21.44% and noninstitutional 38.16%.

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