Parabolic Drugs has received certificate of suitability (COS) from the European Union for its antibiotic molecule ‘Cefixime’.
“Cefixime is one of the top selling products for the company and the COS would enable the company to expand its presence in regulated markets,” Parabolic Drugs said in a statement today.
COS is recognised by various signatory states of the European Pharmacopoeia Convention, the European Union and few non-member countries, it said.
Cefixime, an oral third generation cephalosporin antibiotic, has a world market size of $839 million (September 2010, IMS) growing at 20.9 per cent annually, it added.
“The molecule is growing across the world for its basic use in the treatment of gonorrhea, tonsilitis and pharyngitis. The European market contributes to over 18 per cent in the total sales for this molecule,” it said.
The company has a European GMP certified cephalosporin manufacturing site at Derabassi with an annual production capacity of over 700 tonnes.
Meanwhile, the Parabolic Drugs scrip was trading 2.57 per cent up at Rs 47.90 a share on the BSE in the afternoon today.