Shilpa Medicare shares jump 3% after arm gets EU GMP clearance for Dharwad plant
By Aman Shukla Published on May 5, 2025, 09:41 IST
Shares of Shilpa Medicare rose 3% in early trade on Monday after its biologics division, Shilpa Biologics, received European GMP certification for its manufacturing site in Dharwad, Karnataka. At 9:40 AM, the shares were trading 2.94% higher at Rs 649.00.
The certification follows a successful inspection by the Austrian competent authority, conducted from February 18 to 20, 2025. The inspection assessed the facility's sterile drug product filling and packaging line, quality systems, and quality control laboratories. The site was found compliant with the EU's Good Manufacturing Practice (GMP) standards as per Directive (EU) 2017/1572.
This certification is a key regulatory milestone, allowing Shilpa Biologics to manufacture test batches for European markets—a crucial step toward expanding its global footprint.
Commenting on the development, Dr. Sridevi Khambhampaty, CEO of Shilpa Biologics, said, 'This inspection outcome affirms our commitment to global quality standards and assures reliable outcomes for our customers.'
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at BusinessUpturn.com
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