Shilpa Medicare Unit III R&D facility in Bengaluru authorizes USFDA review

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The United States-based drug regulator, the United States Food & Drug Administration (USFDA), has concluded a remote review of the records of Unit III of Shilpa Medicare, an R&D facility located in Dabaspet, Bengaluru, without any objectionable conditions or observations.

The review was conducted from Monday, November 15, 2021 to Thursday, November 18, 2021. The Research and Development (R&D) Unit III of Shilpa Medicare in Dabaspet, Bengaluru (Karnataka) is involved in the development of formulations (generic, generic complex and innovative products) and provide advanced analytical services.

On a consolidated basis, Shilpa Medicare net profit fell 56% to Rs 19.89 crore on a 5.9% increase in net sales to Rs 295.27 crore in the second quarter of September 2021 compared to the second quarter September 2020.

Shilpa Medicare is a global brand of manufacturing and supplying affordable APIs and formulations globally in various regulated markets.

Shilpa Medicare shares fell 0.70% to close at Rs 560.75 on Thursday, November 18, 2021. The national stock market is closed today, November 19, 2021 because of Guru Nanak Jayanti.

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(This story was not edited by Business Standard staff and is auto-generated from a syndicated feed.)

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