08 May 2023 | News
Company's overseas customers are spread out across several countries
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Ludhiana-based IOL Chemicals and Pharmaceuticals Limited (IOL), a leading manufacturer of pharmaceutical APIs and specialty chemicals, has received the European Directorate for the Quality of Medicines & HealthCare’s (EDQM) Certificate of Suitability (CEP) to export Paracetamol to the European Market. Paracetamol is utilised commonly in medication prescribed for pain relief and to treat fever.
The certification issued by the EDQM verifies the compliance of pharmaceutical substances and with this backing, IOL will now be able to export Paracetamol to the European continent.
The company started commercial production of the same in 2022 in its Punjab-based facility where it is also backward integrated to produce the key starting material for Paracetamol.
At present, IOL has a total capacity of 3,600 tonnes to produce Paracetamol.
IOL is the world’s largest producer of Ibuprofen API with 33% market share globally. Additionally, it has over 13 APIs in its portfolio, including Metformin, Fenofibrate, Lamotrigine, Clopidogrel Bisulphate, and Pantoprazole.