IOL Chemicals and Pharmaceuticals Limited (IOL) on Monday announced that it 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 prescribed for pain relief and to treat fever.
According to the company’s press statement, 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, it added.
Currently, IOL has a total capacity of 3,600 tonnes to produce Paracetamol, the company stated.
IOL is the world’s largest producer of Ibuprofen API with 33 percent market share globally. Additionally, it has over 13 APIs in its portfolio, including Metformin, Fenofibrate, Lamotrigine, Clopidogrel Bisulphate, and Pantoprazole.
