Kwality Pharmaceuticals shines on getting EU GMP approval for Himachal Pradesh facility
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Kwality Pharmaceuticals is currently trading at Rs. 348.00, up by 5.45 points or 1.59% from its previous closing of Rs. 342.55 on the BSE.
The scrip opened at Rs. 354.40 and has touched a high and low of Rs. 358.00 and Rs. 345.10 respectively. So far 1157 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 508.80 on 15-Sep-2022 and a 52 week low of Rs. 265.60 on 08-Aug-2022.
Last one week high and low of the scrip stood at Rs. 358.00 and Rs. 315.00 respectively. The current market cap of the company is Rs. 355.44 crore.
The promoters holding in the company stood at 54.74%, while Institutions and Non-Institutions held 0.01% and 45.25% respectively.
Kwality Pharmaceuticals has received EU GMP approval after completing the EU GMP Inspection for its Cephalosporin and Oncology manufacturing unit II at Himachal Pradesh. The GMP inspection of the site was conducted between April 18, 2023 to April 22, 2023.
At the end of inspection, it is concluded that the Quality system followed at the Himachal site is compliant with the EU GMP Standards. Kwality facilities are designed to meet the highest global regulatory standards, and as the other global inspections also come through, it will have all the necessary approvals to cater to global players.
The EU- GMP approval is an important stepping stone in the journey of the company and will help to expand and strengthen its presence in more regulated markets and will enable us to serve patients across the globe. It allows the company to market its products in all the twenty-seven member countries of the EU. The EU-GMP approval is the result of stringent quality and compliance norms followed at Kwality Pharma across all departments. Over the years the company has seen rise in the export business, which will get further boost once EU operations begin. This approval reaffirms the company's focused efforts to maintain the GMP status up to the standards of global regulatory authorities.
Kwality Pharmaceuticals (formerly Kwality Pharmaceuticals) is a pharmaceutical formation company. It is engaged in manufacturing finished pharmaceutical formulations in dosage form.
