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Shilpa Medicare Shares Rally on Approval From UK Regulator to Market Vertigo Drug

Shilpa Medicare will acquire 100 shares of Pilnove Pharma.

Shilpa Medicare announced on 4 September that it had received approval from the UK healthcare products regulator to market a Meniere’s syndrome drug.

The company has received marketing authorisation from the Medicines and Healthcare Products Regulatory Agency, UK, for Betahistine Dihydrochloride Orodispersible Films, 24 mg, which is used for the treatment of vertigo, tinnitus, hearing loss, and nausea associated with Meniere’s syndrome.

The drug is available in tablets and oral liquid dosage forms in various places across the UK and Europe.

The company also mentioned that it has successfully completed an inspection by the Japanese regulatory agency.

Shilpa Pharma LifeScience, a wholly-owned subsidiary of the company, underwent a good manufacturing practice inspection at the company’s active pharmaceutical Ingredient (API) facility at Raichur, Karnataka, by Japan’s Pharmaceuticals and Medical Devices Agency on 29 August.

The inspection concluded on 1 September without any major observation.

At 12:35 p.m., the shares of Shilpa Medicare were trading at Rs 374.25 or 1.01% above its previous close on NSE.

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