Lincoln Pharma receives permission to manufacture HCQ

One of the country’s leading healthcare companies, Lincoln Pharmaceuticals Limited, informed the bourses on Monday that it has received approval from Food & Drugs Control Administration (FDCA) Gujarat, to manufacture Hydroxychloroquine (HCQ), among other critical drugs to fight COVID-19.

HCQ is a prescription-based drug, commonly recommended to Corona patients under treatment. India is the largest producer of HCQ and is taking a lead in supplying this to the world, in the time of crisis.

The company will manufacture varied dosages of Hydroxychloroquine tablets and Hydroxychloroquine Sulfate tablets among others, at its plant in Khatraj in Ahmedabad. After acquiring the necessary approval from the Directorate General of Foreign Trade (DGFT), it will be able to export these products.

Speaking on the announcement, Mahendra Patel, Managing Director of Lincoln Pharmaceuticals, stated that the company has necessary infrastructure at its state-of-the-art manufacturing facility at Khatraj, Ahmedabad and will look to expedite the commercial production of the approved drugs at the earliest.

Lincoln Pharmaceuticals Limited (LPL) is engaged in the business of manufacturing, marketing and distribution of pharmaceutical products. It offers products such as tablets, capsules, liquid injection, cream in tubes, dry power injection, liquid bott, liquid injection and pharma products.

On Monday, the stock closed at Rs 152.65, up by 4.95 per cent or Rs 7.20 per share. The 52-week high is recorded at Rs 220 and the 52-week low is Rs 85.50 on BSE.