Sequent Scientific announces WHO approval for Vizag facility

On Thursday, Sequent Scientific, a company with businesses across animal health and analytical services, announced receipt of approval from World Health Organisation (WHO) Geneva, for its API Praziquantel (Anthelmintic) under a pre-qualification program at its Visakhapatnam site.

The company's Vizag facility is the only facility that is authorised by United States Food and Drug Administration, focussing on the production of Active Pharmaceutical Ingredients (APIs) for the animal health sector. It is a multipurpose manufacturing facility equipped with reactor capacity of 225 KL and six clean rooms. The facility has been successfully inspected by USFDA during 2016 and 2018.

The company's API business has gained a significant proportion over the last two years and provides the company with a strong earnings base over which, the formulations business growth will continue to be built. Sequent Scientific had an impressive quarter, clocking sales of Rs 316.42 crore in Q3FY20, registering a YoY growth of 16.96 per cent and 11.32 per cent on a QoQ basis. The company reported a net profit of Rs 24.05 crore in the quarter-ended December 2019, growing by 54.50 per cent from Rs 15.57 in the quarter-ended December 2018.

Sequent Scientific Limited is a pharmaceutical company that manufactures active pharmaceutical ingredients, animal health products and speciality chemicals as well as offers analytical services and custom research & manufacturing services.

On Thursday, the stock closed at Rs 65.50, down by 13.13 per cent or Rs 9.90 per share. Its 52-week high is recorded at Rs 99.35 and its 52-week low is Rs 62.90 on BSE.