Shilpa Medicare gets EIR from USFDA for Raichur API site

Pharmaceutical company, Shilpa Medicare Ltd, announced today that it has received an establishment inspection report (EIR) from US Food & Drug Administration (USFDA) for the inspection conducted at API manufacturing site in Raichur (Karnataka).

In a BSE filing made today, the company informed that the EIR is for the inspection conducted from February 3 to 7, 2020. Post the inspection, USFDA determined that the inspection classification of this facility is ‘no action indicated’ (NAI).

Shilpa Medicare Limited is engaged in the manufacturing of active pharmaceutical ingredients (API), formulation and development service. Incorporated in 1987, the company started its operations as API manufacturer at Raichur (Karnataka).

SML deals in high-quality APIs, bulk drug, new drug delivery systems, peptides/biotech products and speciality chemicals using sophisticated technology in order to comply with international standards. SML is among the world's leading suppliers of oncology/non-oncology APIs and intermediates.

At the time of market closing on Friday, the stock of Shilpa Medicare Ltd was trading at Rs 378.95, up by 4.99 per cent against its previous close of Rs 360.95. Its 52-week high is Rs 538.75 while, its 52-week low is Rs 190.80 on BSE.