Shilpa Medicare gets GMP approval for Hyderabad facilities

Both units of Shilpa Medicare's (Unit IV and Unit VII) have now received GMP approval of Eurasia, the member countries for which are Belarus, Russia, Kazakhstan, Kyrgyzstan, and Armenia.

This approval will open up significant business opportunities in these countries.

Unit IV of Shilpa Medicare is engaged in the manufacture, testing, release and distribution of sterile Injectable and non-sterile Oral finished dosage forms in the US, Europe and rest of the world markets.

Unit VII of Shilpa Medicare is engaged in testing raw materials, packing materials, finished dosage forms, and other testing activities.

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's consolidated net profit soared to Rs 17.94 crore in Q2 FY25 as against Rs 1.61 crore posted in Q2 FY24. Revenue from operations rose 9.8% to Rs 343.80 crore in the quarter ended 30 September 2024.

The scrip shed 0.33% to currently trade at Rs 767.30 on the BSE.