IOL Chemicals & Pharma rallies over 5% after regulatory approval for hypertension drug; check details

In a filing to the stock exchange on July 23, the pharmaceutical company said that the European Directorate for the Quality of Medicines & Health Care (EDQM) had issued a certificate of suitability for the hypertension drug Valsartan.

The approval from EDQM will enable the company to export Valsartan to European countries and other countries that accept the sustainability certificate. This certification will ensure that the product meets the required standards for quality and purity, allowing it to be used in treating high blood pressure (hypertension) in these markets.

Valsartan is an angiotensin receptor blocker (ARB) medicine widely used to treat high blood pressure (hypertension) and heart failure, which works by relaxing blood vessels. It's a commonly prescribed medication for hypertension, and this certification will help increase its availability in European and other CEP-accepting countries.

Earlier this month, the company also received Chinese regulatory authority NMPA's nod for the cholesterol drug Fenofibrate, which is used in the treatment of high cholesterol and triglyceride levels in the blood. This will allow the company to export it to the Chinese market.

IOL Chemical and Pharmaceuticals has a broad presence in various therapeutic areas, including pain management, anti-diabetes, antihypertensive, and anticonvulsants.

IOL Chemicals and Pharmaceuticals shares closed 5.28% higher at ₹417.8 apiece on the NSE.