IOLCP gets approval from China's pharmaceutical regulator for its cholesterol drug

2 Jul 2024 , 01:52 PM

On Monday (July 1), pharmaceutical major IOL Chemicals & Pharmaceuticals Ltd (IOLCP) announced that its medication, fenofibrate, has been approved by China’s National Medical Products Administration.

This regulatory approval allows IOL Chemicals to export its fenofibrate active pharmaceutical ingredient (API) to the Chinese market.

Fenofibrate is a drug used to treat high cholesterol and triglyceride levels in the blood, which helps with cardiovascular health management.

IOLCP, founded in 1986, is one of India’s biggest generic pharmaceutical companies and a major player in the organic chemicals industry. IOLCP has a broad presence in a variety of therapeutic areas, including pain management, anti-diabetes, antihypertensive, and anticonvulsants.

IOL Chemicals & Pharmaceuticals Ltd is a leading pharmaceutical (API) firm with a strong presence in the specialty chemicals market. It serves both domestic and export markets.

It is the world’s largest producer of Ibuprofen (pain reliever), accounting for 35% of the global market.

At around 1.49 PM, IOL Chemicals was trading 5.56% higher at ₹432.15, against the previous close of ₹409.40 on NSE. The counter touched an intraday high and low of ₹448.90, and ₹429, respectively.

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