The Karnataka based Shilpa Medicare Ltd, has received the certificate of suitability of monographs of the European Directorate for the Quality of Medicines (EDQM) for carboplatin. The company has plans to enter into the US and CIS markets in a big way during 2008.

Carboplatin is in a class of drugs known as platinum-containing compounds; it slows or stops the growth of cancer cells in human body. With this approval the company can penetrate European markets. The company has filed DMF's for gemcitabine HCI and oxaliplatin, with the endorsement from the EDQM. It will be able to sell these products in whole of Europe.

Speaking to Pharmabiz, Vishnukanth Bhutada, managing director, said, "We have completed regulatory formalities in the US as well as in the CIS market and are expecting to make our presence felt in these markets by the mid of 2008. We are planning to file 9 DMFs each in the US and European markets. At present our 14 products are available in the market and 6 more products are in the pipeline. These new products are likely to enter into the domestic market by April 2008".

Shilpa Medicare has achieved a total turnover of Rs 69.83 crore during the year ended March 2007 as against Rs 48.85 crore in the previous year. It's net profit went up to Rs 7.09 crore from Rs 3.96 crore during the same period. The company is now focusing more on CRAMs business activity. Its 50 per cent total turnover is coming from the CRAMs. "For the next year we are targeting to double our existing turnover," he said.

The company has plans to set up its new oncology API manufacturing and research and development facility at Raichur, Karnataka. "We have already acquired 21 acre land in Raichur Industrial Growth Centre and it will start commercial production by mid 2008," Bhutada said.