Shares of SeQuent Scientific Ltd rose by 7% following the company’s announcement that it has received prequalification approval from the World Health Organization (WHO) for its Albendazole Active Pharmaceutical Ingredient (API).
Key Updates
- WHO Approval: On August 19, 2024, SeQuent Scientific announced that the WHO had granted prequalification for its Albendazole API. This approval comes in collaboration with Mepro Pharmaceuticals Private Ltd, which has developed and commercialized a chewable Albendazole formulation from its WHO PQ-approved plant.
- Market Reaction: As of 9:50 am, SeQuent Scientific’s shares were trading 6.83% higher at ₹168.25 on the National Stock Exchange (NSE).
Importance of Albendazole
- Treatment: Albendazole is used to treat various parasitic infections such as tapeworm, roundworm, and hookworm, which impact millions globally, especially in low and middle-income countries.
- Global Recognition: The WHO prequalification underscores SeQuent Scientific’s adherence to international standards in producing high-quality, effective, and safe Albendazole API.
Company Statement
- Commitment: SeQuent Scientific stated that the WHO prequalification validates its manufacturing capabilities and reinforces its dedication to delivering high-quality, affordable medicines worldwide.