IOL Chemicals and Pharmaceuticals, a Rs.375 crore plus company, has received US FDA approval for marketing APIs in US after successful inspection of its ibuprofen manufacturing facility situated at Barnala in Punjab. This will result into higher value added export turnover and higher margins.
The company's manufacturing facility already hold Certificate of Suitability for its products ibuprofen, metformin hydrochloride and lamotrigine from European Directorate for the Quality of Medicines and HealthCare (EDQM) authorities Council of Europe, France. The said facility at Barnala has also been approved by ANVISA Brazil, WHO and MOH Japan.
These approvals will help IOLCP to build and sustaining the growth by its API business in coming years being the only integrated player globally by exploring the higher value added regulated markets.