Lincoln Pharmaceuticals receive European Union GMP approval

Lincoln Pharmaceuticals Limited has received European Union (EU) GMP certification from Germany FDA for its manufacturing facility located at Khatraj (Gujarat). The certification will allow the company to market its products in all the 27 member countries of EU and also give an access to European Economic Area (EEA) countries. The company aims to enter EU markets very soon with its dermatology, gastro and pain management products and gradually expand product portfolio.

The inspection was done by the regulatory agency in December 2019, followed by the final approval in May 2020. The company manufactures a wide-range of drugs at its Khatraj facility and includes anti-infective, respiratory system, gynaecology, dermatology, gastro, pain management, cardio & CNS, anti-bacterial, anti-diabetic and anti-malaria, among others.

With EU certification, the company will expand its business network to 90 plus countries. The company currently exports to 60 plus countries including East & West Africa, Central & Latin America and Southeast Asia.

Export business has shown a remarkable growth in the last few years. Exports have increased to 61 per cent of the total sales in FY20 from 11 per cent of the total sales in FY11. The company has almost doubled the export turnover in FY20 as compared to FY18. Export of the company stood at Rs 227 crore in FY20 as compared to Rs 197 crore in FY19, a growth of 15 per cent YoY.

The stock closed at 166.15, up by 1.40 per cent or Rs 2.30 per share. The intraday high is Rs. 168 and intraday low is Rs 161.35. The 52-week high is Rs 220 and 52-week low is Rs 85.50 on BSE.