Shilpa Medicare Ltd Share Price – NSE  /  BSE

Pharmaceuticals, Small Cap

Shilpa Medicare's marketing partner, Amneal Pharmaceuticals, has launched PEMRYDI RTU® (Pemetrexed injection 10 mg/mL), the first ready-to-use pemetrexed formulation in the US market. The product has already been granted permanent J-code (J9324) by U.S. Centers for Medicare & Medicaid Services (CMS).

Pemetrexed Injection is used as a drug, in the treatment of non-small cell lung cancer in combination with other chemotherapy agents. It is also indicated in the treatment of mesothelioma in combination with cisplatin. PEMRYDI RTU® is a novel ready-to-use injection which eliminates the need for refrigeration or reconstitution and dilution for administration to the patient. This offers hospitals and oncology clinics a new, value-added presentation that should improve pharmacy efficiency by eliminating preparation steps and freeing up refrigerator space. Currently product is available in two vial sizes: 100mg/10mL and 500 mg/50mL, and we intend to introduce 1000mg/100mL soon in the market.

According to IQVIA®, U.S. annual sales for pemetrexed for the 12 months ended February 2024 were $287 million.

Powered by Capital Market - Live News

Pemetrexed injection is used as a drug, in the treatment of non-small cell lung cancer in combination with other chemotherapy agents. It is also indicated in the treatment of mesothelioma in combination with cisplatin.

PEMRYDI RTU’ is a novel ready-to-use injection which eliminates the need for refrigeration or reconstitution and dilution for administration to the patient. This offers hospitals and oncology clinics a new, value-added presentation that should improve pharmacy efficiency by eliminating preparation steps and freeing up refrigerator space.

According to IQVIA, U.S. annual sales for pemetrexed for the 12 months ended February 2024 were $287 million.

Raichur-based Shilpa Medicare is a vertically integrated, manufacturer and distributor of quality drugs to global markets; specializing in the oncology therapeutic segment and introducing novel drugs focusing on patient convenience and compliance.

The company’s consolidated net profit stood at Rs 4.58 crore in Q3 FY24 as compared with net loss of Rs 6.62 crore posted in Q3 FY23. Net sales stood at Rs 286.48 crore in Q3 FY24, up 9.1% year on year.

Powered by Capital Market - Live News

The said unit of Shilpa Medicare is engaged in the manufacture, testing and distribution of sterile Injections and non-sterile tablets and Capsule finished dosage forms in the US, Europe and rest of the world markets.

The previous EU – GMP inspection for this facility was in January 2020.

Earlier, the company’s unit 4, Jadcherla, Telangana, facility was inspected by AGES, Austria from 22 January, 2024 until 26 January, 2024.

Following a successful inspection, the said unit has been issued GMP Certification from Ages, Austria.

This inspection will facilitate continued supply of medicines for commercial distribution to various countries of the European Union from this unit.

Shilpa Medicare is a global brand in manufacturing and supplying of API and formulation globally in different regulated markets.

The company’s consolidated net profit stood at Rs 4.58 crore in Q3 FY24 as compared with net loss of Rs 6.62 crore posted in Q3 FY23. Net sales stood at Rs 286.48 crore in Q3 FY24, up 9.1% year on year.

The scrip rallied 6.14% to ends at Rs 540.45 on Tuesday, 16 April 2024. The domestic market is shut on account of Ram Navami.

Powered by Capital Market - Live News

The issue opened on Monday, 8 April 2024 and concluded on Friday, 12 April 2024, with a total of 1,09,89,010 equity shares being allotted. The shares were priced at Rs 455 per share, resulting in an issue size of approximately Rs 499.99 crore.

The issue price of Rs 455 is at a discount of Rs 32.33 or 4.68%, to the floor price of Rs 477.33 per equity share set for the QIP issue.

The QIP witnessed participation from various institutional investors, with the allottees receiving more than 5% of the total issue size.

ICICI Mutual Fund emerged as the largest allottee, securing a major 18% allocation. Following, Bandhan Mutual Fund received allocation of 10%.

SBI Life Insurance Company and Troo Capital, both received allocations of 10% each. Dovetail India Fund and Winro Commercial (India) were each given 5% allotments. Cohesion MK Best Ideas Sub-Trust secured 8% allocation, while Abakkus Diversified Alpha Fund-2 and Ashoka Whiteoak ICAV received allocations of 5.46% and 6.12%, respectively.

Shilpa Medicare is a global brand in manufacturing and supplying of API and formulation globally in different regulated markets.The scrip shed 1.46% to settle at Rs 504.60 on Friday, 12 April 2024.

Powered by Capital Market - Live News