IOL Chemicals & Pharmaceuticals Ltd saw a 4% jump in its stock price after receiving a Certificate of Suitability (CEP) from the European Directorate for the Quality of Medicines & Health Care (EDQM) for its active pharmaceutical ingredient (API) Quetiapine Fumarate on March 4, 2025.
This certification allows IOL Chemicals to export Quetiapine Fumarate, an antipsychotic drug used to treat mental health disorders, to European and other countries that recognize the CEP. The approval strengthens the company’s position in the global pharmaceutical market and is expected to boost its revenue.
Quetiapine Fumarate is widely prescribed for conditions such as schizophrenia, bipolar disorder, and major depressive disorder. With increasing demand for mental health medications, this certification is a strategic milestone for IOL Chemicals, opening doors to expanded global sales and new business opportunities.
IOL Chemicals & Pharmaceuticals Ltd. saw its stock open at ₹341.50, reaching a high of ₹349.50 and a low of ₹338.80 during the trading session. The stock remains significantly below its 52-week high of ₹537.70 but above its 52-week low of ₹293.25.
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