The European Directorate for the Quality of Medicines (EDQM) has awarded Certificate of Suitability to European Pharmacopoeia Monograph for Nifedipine EP manufactured by Unique Chemicals. J B Chemicals (JBPCL) is the first and only Indian and Asian company to obtain the prestigious certification for Nifedipine. The company had earlier bagged similar EU Certifications for two of its bulk drug products - Metronidazole and Diclofenac Sodium.
Following the announcement that Unique Chemicals, a division of the company, has been awarded the certification from the European Union, share prices of J B Chemicals moved up by Rs 1.50 to Rs 108.70 recovering from its intra-day low at Rs 107.
The company manufactures the active pharmaceutical ingredients (APIs) at the company's state-of-the art GMP-compliant manufacturing plants. The Certificate of Suitability issued by European Directorate endorses the quality system followed by the company and its technological competence. The award of the aforesaid three EU Certifications will enable the company to accelerate its exports to the quality-conscious European Union significantly
The company has been in the news over the last one month for more than one reason. J B Chemicals had recently filed patent applications in the US and South Africa for novel compounds having potent therapeutic activities. The patent application claims that the company has invented novel compounds as well as processes for their manufacture. Pre-clinical animal screening of these compounds has shown promising results for their use in inflammatory joint disorders.
The company holds 13 international patents, most significant being ranitidine controlled release formulation and metrogyl dental gel in the US and Nifedipine-sustained release tablets in South Africa.
For the year ended 31 March 2001, the pharma major posted a gain of 56% in its net profit to Rs 22.02 crore from Rs 14.53 crore in the previous fiscal. Its net sales also rose by 14%, or Rs 21.94 crore, to Rs 181.07 crore as compared to Rs 159.13 crore in the previous corresponding period.