IOL Chemicals and Pharmaceuticals, a manufacturer and supplier of industrial chemicals, has received Establishment Inspection Report from United State Food and Drug Administration (US FDA) after successful inspection of its Ibuprofen manufacturing facility situated at Barnala, Punjab, India.
Post this approval, IOLCP will be able to garner additional business for its flagship API Ibuprofen in world's largest pharma market-USA. This will result into higher value added export turnover and higher margins.
Shares of the company are trading at Rs 109.60, up Rs 16.8, or 18.10% at the Bombay Stock Exchange (BSE) on Monday at 2:55 p.m.
Total volume of shares traded on the bourses today was higher by 130,240.68% to 1,682,229 compared with 22-day average volume of 1,291.