Shilpa Medicare on Tuesday, 19 November, announced receiving a suitability certificate for its active pharmaceutical ingredient (API), Octreotide, from a European regulatory authority. 

In its regulatory filing, the company said, “This is to inform you that the Shilpa Medicare Limited’s 100% subsidiary, Shilpa Pharma Lifesciences Limited received certificate of suitability (CEP) from EDQM (European Directorate for the Quality of Medicines & Healthcare) for API, Octreotide. Octreotide is synthetic peptide manufactured by Shilpa Pharma Lifesciences through solid phase synthesis.”

A pharmaceutical substance’s compliance with the quality requirements outlined in the European Pharmacopoeia (EP) is attested by the CEP.

Severe diarrhoea and other symptoms related to specific intestinal tumours, such as metastatic carcinoid tumours that have spread throughout the body and vasoactive intestinal peptide tumours (VIPomas), are treated with octreotide injection.

According to the business, Octreotide is the second peptide compound in Shilpa’s peptide portfolio.  

Earlier last week, the company reported strong financial growth for its quarter, which ended on 30 September of the current fiscal year. 

In Q2FY25, the company reported a net profit of Rs 17.9 crore, up from Rs 1.6 crore in the same period last year. 

The company’s revenue from operations during the quarter stood at Rs 344 crore, marking a 9.8% year-on-year increase from Rs 313 crore reported in the same quarter last year.

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