With EDQM approval IOL Chemicals and Chemicals can export Pantoprazole Sodium Sesquihydrate to European countries.
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IOL Chemicals and Pharmaceuticals, the specialty chemicals and active pharmaceutical ingredient (API) company said that it has received a ‘Certificate of Sustainability’ (CEP) from European Directorate for the Quality of Medicines (EDQM) to export Pantoprazole Sodium Sesquihydrate to the European market.
Pantoprazole Sodium Sesquihydrate is a water-soluble off-white crystalline powder used for the treatment of acidity.
In another filing, IOL Chemicals and Pharmaceuticals also informed the bourses that it has been granted a Patent on the “Sitagliptin Process” from the Indian Patent Office on November 2.
IOL Chemicals and Pharmaceuticals is the world's largest manufacturer of Ibuprofen and the second largest manufacturer of Iso-Butyl Benzene (IBB).
The company reported a net profit of Rs 34.9 crore for the June quarter. The total income stood at Rs 570.2 crore against Rs Rs 524.2 crore a year ago.