Shilpa Medicare Ltd has announced that the Company, submitted its DMF's for Ambroxol HCL and Gemcitabine HCL to South Korean FDA in 2007 and the South Korea FDA (KFDA) officials inspected the Company, manufacturing facilities in last week of Nov. 2007.
The KFDA Official satisfied with the compliance of GMP Standards have approved the Company, facilities for Gemcitabine HCL and Ambroxol HCL. This has been displayed on KFDA website.
This is an important achievement for the Company, as it is the first regulatory approval for the Company & also it is the first Company to get approval for Gemcitabine HCL (Oncology API) from KFDA in India. This proves that SHILPA can confidently face the other regulatory inspections for Gemcitabine HCL and other Oncology API’s from EDQM, France, TGA Australia, UKMHRA, and USFDA.
The Company has already filed EDMF for Gemcitabine HCL in 27 European Countries & also with EDQM for Certificate of Suitability.
Gemcitabine HCL is going off the patent soon and Worldwide market size in 2006 was US$ 1193 Millions & growing very fast every year. Many reputed Companies in Europe, India & US have started working with the Company, for Gemcitabine HCL. And the Company wants to become a significant player by capturing large chunk of market share.
Gemcitabine HCL is a cancer (Oncology) medication is used in the treatment of cancers of pancreas lungs and breast. Gemcitabine interferes with the growth of cancer cells and slows their growth and stops the spread of cancer cell in the body.
Ambroxol HCL is an Expectorant and Mucolytic. The Company is the largest manufacturer of API in India and already it has received Certificate of Suitability from EDQM, France.
With this KFDA approvals the Company’s products will be well accepted by Customers in S.Korea.
January 16, 2008
Shilpa Medicare receives KFDA approval for Gemcitabine HCL & Ambroxol HCL
October 16, 2007
Shilpa Medicare to acquire Austria's LOBA Finchemie
Shilpa Medicare Ltd has announced that the Company has entered into a memorandum of understanding (MoU) with LOBA Finchemie AG, Austria, to acquire 100% shares of LOBA in an all-cash deal.
The formal terms will be announced after the due diligence process, currently on, is completed.
Founded in 1957, the privately-owned LOBA provides specialty APIs, organic intermediates, biochemical diagnostics, and customs synthesis. With facilities conforming to top Euro cGMP and USFDA specifications. LOBA counts some of the world's largest pharmaceutical and diagnostic Companies as its business partners. The Company's product range covers 500 organic compounds available from kilo-to-small ton quantities.
LOBA is a profit-making Company, with current annual revenue at nearly USD 15 million.
Comment by Vishnukant Bhutada, Managing Director of the Company:
LOBA's acquisition, if successful, will fast forward Shilpa Medicare's vision of becoming India's leading manufacturer in the high growth oncology and CRAMS sectors, said Vishnukant Bhutada, Managing Director of the Company.
"LOBA, with its product range long-standing customer relationships in highly regulated markets, and internationally certified and compliant R&D and manufacturing facilities, is a perfect strategic fit for Shilpa Medicare. Given our highly skilled talent pool and low operational costs, the Shilpa-LOBA combination would be a formidable entity in the global oncology and CRAMS sectors," Mr. Bhutada said.
