Unichem Laboratories has dipped 4% to Rs 188 after reporting 16% year on year drop in standalone net profit at Rs 30.20 crore for the quarter ended June 30, 2014 (Q1), due higher expenditure and lower other income.
Leading domestic drug makers Lupin, Unichem and Matrix Labs (now part of Mylan) have come under the scanner of the European Commission for curbing entry of the low-cost generic version of cardiovascular medicine Perindopril in the European Union (EU).
Drug firm Unichem Laboratories today posted 8.90% rise in net profit at Rs 36.09 crore for the first quarter ended June 30, 2013. The company had posted a net profit of Rs 33.14 crore during the same period of previous fiscal.
Unichem Laboratories has rallied 7% to Rs 208 after the company said it has received ANDA approval from the United States Food and Drug Administration (USFDA) for Divalproex Sodium Delayed Release Tablets.
Unichem Labs has spurted after being granted a certificate of suitability to European Pharmacopeia (CEP) by European Directorate for the Quality of Mechcines and Healthcare (EDQM) for Alfuzosin Hydrochloride.
Unichem Laboratories Ltd, a leading pharmaceutical company in India, has been granted certificate of suitability to European Pharmacopeia (CEP) by European Directorate for the Quality of Mechcines and Healthcare (EDQM) for Alfuzosin Hydrochloride.