Lincoln Pharmaceuticals Ltd receives approval from Australian Regulator, TGA

Lincoln Pharmaceuticals Limited, one of India's leading healthcare companies has received approval from Australia's medicines and medical devices regulator - Therapeutic Goods Administration {TGA). Company's manufacturing facility in Khatraj, Gujarat received the GMP clearance from TGA for all three departments Tablet, Capsule and Cream & Ointment, which will cover wide range of Pharmaceutical Formulation manufactured by the Company. Company looks to enter the Australian markets soon with its dermatology, gastro and pain management products and gradually expand product portfolio. The certification· Will be valid till June 2023.

TGA and EU GMP approval will strengthen company's presence in the regulated markets. In May 2020, company had· received European Union (EU) GMP certification from Germany FDA for its manufacturing facility which allows the company to market its products in all the 27 member countries of EU and also give access to European Economic Area (EEA) countries.

The company manufactures wide-range of drugs at its Khatraj facility and includes anti-infective, respiratory system, gynaecology, dermatology, gastro, pain management, cardio & CNS, anti-bacterial, anti-diabetic, anti-malaria among others.

Mr. Mahendra Patel, Managing Director, Lincoln Pharmaceuticals Limited, said, "TGA and EU GMP approval are important stepping stone in the journey of the company and will help to expand its presence in more regulated markets. TGA and EU GMP approvals are result of stringent quality and compliance norms followed at Lincoln Pharma across all departments especially the R&D and compliance. Over the years, company has seen good traction in the export business, which is expected to get further boost once TGA & EU operations begins. The certification will allow us to address the growing needs of patients in the regulated markets and provide affordable and innovative medicines."

With the TGA & EU certification, company will expand its business network to 90 plus countries. Company currently exports to 60 plus countries including East & West Africa, Central & Latin America and Southeast Asia and has got many product registrations in these countries and is also awarded with number of global tenders.

Export business of the company has shown remarkable growth in the last few years and had increased to 65% of total sales in FY21 from 11 % of total sales in FY13. Company currently exports to 60 plus countries including East & West Africa, Central & Latin America and Southeast Asia. For the FY21, exports grew 18.4% to Rs. 270 crore.

"For the next phase of growth, company is building a strong portfolio in lifestyle and chronic segment especially dermatology, gastro and pain management to complement its strong presence in acute segment. Going forward, we are confident to improve our growth numbers of revenue, margins and profitability in FY22. Our strategic growth initiatives, product and geographical expansion, operational efficiency and debt free status are likely to maximise value for all stakeholders in the near to medium term," said Mr. Patel.

Shares of Lincoln Pharmaceuticals Limited was last trading in BSE at Rs. 400.60 as compared to the previous close of Rs. 372.55. The total number of shares traded during the day was 28613 in over 1297 trades.

The stock hit an intraday high of Rs. 403.20 and intraday low of 373.50. The net turnover during the day was Rs. 11238819.00.

Source : Equity Bulls

Keywords

LincolnPharmaceuticals INE405C01035 LINCOLN Pharmaceuticals TGAApproval Khatraj Gujarat Facility