SMS Pharmaceuticals gains on getting CEP approval for Ibuprofen
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SMS Pharmaceuticals is currently trading at Rs. 88.05, up by 1.50 points or 1.73% from its previous closing of Rs. 86.55 on the BSE.
The scrip opened at Rs. 88.50 and has touched a high and low of Rs. 90.00 and Rs. 87.50 respectively. So far 620 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 199.15 on 05-Aug-2021 and a 52 week low of Rs. 71.00 on 17-Jun-2022.
Last one week high and low of the scrip stood at Rs. 90.00 and Rs. 82.00 respectively. The current market cap of the company is Rs. 758.91 crore.
The promoters holding in the company stood at 64.17%, while Institutions and Non-Institutions held 0.63% and 35.20% respectively.
SMS Pharmaceuticals has received Certificate of Suitability (CEP) approval for Ibuprofen from the European Directorate for the Quality of Medicines & HealthCare (EDQM). With this, the company can start selling Ibuprofen in the European markets. The company will continue to explore avenues to further grow the revenue from Ibuprofen.
The company’s growth trajectory is expected to accelerate further, in the upcoming quarters underpinned by the recovery in the key products and further geographic expansion for Ibuprofen and other products. The Company is committed to meeting the highest quality standards and is further committed to be fully compliant with the GMP regulations at all its manufacturing facilities.
SMS Pharmaceuticals is a global player in API and intermediates manufacturing having a strong research and manufacturing team supported by state?of?the?art facilities.
