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SeQuent Scientific gains on receiving EIR for its API Drug Manufacturing facility

09 Nov 2015 Evaluate

SeQuent Scientific is currently trading at Rs. 888.00, up by 9.75 points or 1.11% from its previous closing of Rs. 878.25 on the BSE.

The scrip opened at Rs. 870.00 and has touched a high and low of Rs. 935.00 and Rs. 870.00 respectively. So far 2,62,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 1120.00 on 22-Sep-2015 and a 52 week low of Rs. 391.15 on 24-Nov-2014.

Last one week high and low of the scrip stood at Rs. 955.00 and Rs. 870.00 respectively. The current market cap of the company is Rs. 3,660.00 crore.

The promoters holding in the company stood at 57.12% while Institutions and Non-Institutions held 24.64% and 18.24% respectively.

SeQuent Scientific has received Establishment Inspection Report (EIR) for its API Drug Manufacturing facility at Mangalore, Karnataka which was inspected by the USFDA in June 2015 as part of GMP compliance audit and now confirms the closure of the inspection. The previous USFDA inspection for this facility was in the year 2012. The facility continues its status of being acceptable by USFDA.

The SeQuent Mangalore facility is ISO 9001 certified for Quality Management systems and ISO 14000 certified for Environment Management systems. This state-of-the-art facility engaged in the development and manufacture of APIs and API Intermediaries. In addition to the USFDA, the site is also approved by TGA (Australia), and WHO (Geneva) and has four CEPs for its APIs (EDQM) with more in pipeline.

SeQuent Mangalore specializes in niche and difficult to manufacture APIs and has 5 of its APIs prequalified by WHO Prequalification of Medicines program. It has filed more than 30 drug master files covering USFDA, Europe, WHO, Australia, Canada with several more niche APIs in the pipeline for future filings.


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