Evexia Lifecare Limited receives initial plant layout permission from FDA

Evexia Lifecare Limited has received initial plant layout permission from FDA to setup Active Pharmaceutical Ingredient (API) manufacturing plant of Isometamidium (Isometa) in addition to the current ongoing commercial activity.

The Isometamidium (ISOMETA) is mainly used for the rare dieses in the cattle, buffalo, goat, sheep, equines (horses, donkeys), camels and dogs. Very few players are manufacturing the said API in India as well as across the world. The company is going to set up a plant with the capacity of 400kg per month API which will be the highest production by any company.

This API plant will increased the revenue of the company by 30-40 Cr p.a. as well as increased the profitability by good %. There is high demand of this API mainly in Middle East, Africa and Latin America. The advance stage negotiation is already going on with buyers for advance order of this API product.

The company has collaborated very well-known scientist Mr. Avsari and Mr. Deepak Yarde for this project. They have experience of more than 35 years in this field. The company has setup well equipped Research & Development Laboratory at its Vadodara based plant location.

The company is going to setup a large plant to manage the demand of ISOMETA across the globe. Evexia has strong technical background and good manufacturing facility for manufacturing of API and formulations.

Evexia Lifecare Ltd will market this product with wide International contacts and expecting sizable market share. The company is aiming to supply 20% of the total demand of this API in future.

Shares of Evexia Lifecare Limited was last trading in BSE at Rs. 19.05 as compared to the previous close of Rs. 19.75. The total number of shares traded during the day was 1440158 in over 5024 trades.

The stock hit an intraday high of Rs. 20.8 and intraday low of 18.7. The net turnover during the day was Rs. 27583756.

Source : Equity Bulls

Keywords