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Sigachi Industries Limited has announced a strategic move to expand its pharmaceutical presence in Europe by submitting a Certificate of Suitability (CEP) filing for Propafenone Hydrochloride through its subsidiary, Trimax Biosciences Pvt Ltd.
The shares of Sigachi Industries Limited were trading at ₹55.08 up by ₹3.95 or 7.73 per cent on the NSE today at 12.07 pm.
The API, primarily used in treating cardiac arrhythmias, represents a significant market opportunity. The global Propafenone Hydrochloride market is currently valued at $1.2 billion and is projected to grow to $2.1 billion by 2032, with a compound annual growth rate of 7 per cent.
The CEP filing marks a critical milestone for Trimax Biosciences, enabling potential exports to European and other CEP-accepting countries. The company’s Raichur, Karnataka-based facility is already approved by USFDA and complies with international quality standards including cGMP, EMEA, and WHO-GMP guidelines.
Managing Director Amit Raj Sinha highlighted the submission as a testament to the company’s commitment to quality, compliance, and innovation in the active pharmaceutical ingredient (API) sector. The move is expected to diversify Sigachi’s revenue streams and strengthen its position in the global pharmaceutical supply chain.
The strategic filing comes amid growing global healthcare expenditure and increasing adoption of generic medications, positioning Trimax Biosciences to capitalise on emerging market opportunities.
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