Shares of IOL Chemicals and Pharmaceuticals rose 4.69% to ₹68.58 in early trade on April 29, gaining ₹3.07 from the previous close of ₹65.51. The surge follows an announcement that the company has received regulatory approval to export its Ibuprofen product to China.
In a regulatory filing dated April 28, IOL Chemicals confirmed that its product “Ibuprofen” has been approved by the Center for Drug Evaluation (CDE) under China’s National Medical Products Administration (NMPA). This enables the company to enter the Chinese pharmaceutical market with one of its key active pharmaceutical ingredients (APIs).
Ibuprofen is a non-steroidal anti-inflammatory drug (NSAID) widely used to relieve pain, inflammation, and fever. The company noted that this approval marks a significant milestone in expanding its international presence.
As of 9:38 AM, the stock traded in the range of ₹67.23 to ₹69.99. IOL Chemicals’ market capitalization stood at ₹20,130 crore with a P/E ratio of 20.68 and dividend yield of 1.17%.
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