Triumphant Milestone: Laurus Labs Hyderabad Unit Triumphs in USFDA Inspection | Celebratory Capital Market News

Laurus Labs’ Hyderabad Facility Passes USFDA Inspection with No Observations

Sep 14, 2024, 5:04 PM IST – Laurus Labs announced that its active pharmaceutical ingredient (API) manufacturing facility in Hyderabad successfully completed an inspection by the United States Food and Drug Administration (USFDA) with zero 483 observations. The inspection was conducted from September 9 to 13, 2024.

Located at DS-1, IKP Knowledge Park, Genome Valley in Telangana, the Hyderabad facility plays a critical role in developing high-quality APIs, reinforcing Laurus Labs’ commitment to delivering innovative pharmaceutical solutions globally.

Laurus Labs is a fully integrated pharmaceutical and biotechnology company, renowned for its leadership in generic APIs, particularly in the fields of anti-retroviral, oncology, cardiovascular, gastro, and hepatitis C therapeutics. The company also excels in manufacturing oral solid formulations and offers contract research and manufacturing services (CRAMS) to international pharmaceutical firms.

Despite the successful inspection, Laurus Labs reported a consolidated net profit decrease of 49.7%, amounting to Rs 12.51 crore in Q1 FY24 compared to Rs 24.85 crore in the same quarter the previous year. However, net sales saw a slight increase of 1.1%, rising to Rs 1,194.91 crore in Q1 FY25 from Rs 1,181.79 crore year-on-year.

The company’s shares dropped by 0.25%, closing at Rs 505.70 on Friday, September 13, 2024.

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