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CARE assigns ‘A-‘ rating to long term facilities of Sharon Bio-Medicine

24 May 2011 Evaluate

Credit rating agency, CARE has assigned the rating to the bank facilities of Sharon Bio-Medicine. The agency has assigned ‘A- (Sign A minus)’ rating for long term facilities of the company. The agency has also assigned ‘PR1 (PR One)’ rating for short term facilities of the company.

The above ratings are applicable to facilities having tenure of more than one year in case of long term facilities and up to one year in year in case of short term facilities.

Recently, Sharon Bio-Medicine’s toxicology unit had received Ministry of Science and Technology, New Delhi approval for Good Laboratory practices. The company at toxicology unit at Taloja, near Navi Mumbai engages in the pre clinical trial of Pharmaceuticals, consumables and other products which either are manufactured at its plant or outside.

The company was incorporated in 1989 and present management has taken over the company in 1995. Since then the company has progressed manifold and today the company is manufacturing Active Pharma Ingredients (API), intermediate of API’s and formulations. The company is also having its own 3 R & D Units and 1 Toxicology Lab. Its 3 Units are located at MIDC, Taloja near Navi Mumbai and at Dehraddun, Uttarakhand.

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