INDIAN PHARMA CO NECTAR LIFE GETS EU NOD FOR ANTIBIOTIC MOLECULE

Indian pharma company Nectar Lifesciences (BSE:532649) on Wednesday said its antibiotic molecule Cefuroxime Axetil, used for treating infections, has received a certificate of suitability from the European health regulator.

A certificate of suitability is given by the European Directorate for Quality of Medicines and Healthcare (EDQM) for certifying compliance of a material with the requirements laid down in the European Pharmacopeia.

The certificate of suitability by the EDQM is second approval for the Cefuroxime Axetil in this month, after receiving Korean FDA approval earlier, Nectar Lifesciences said in a statement.

Cefuroxime Axetil is marketed by GlaxoSmithKline as Zinnat in the EU and Ceftin in US as tablets and powder for oral suspension and has global sales of US$710 million, out of which the European sales constitute around US$450 million.

"The certificate of suitability grant for Cefuroxime Axetil in the EU is a testimony to the efforts made by the company to increase our reach and further entrench presence in the regulated markets," NecLife director and chief executive officer Dinesh Dua said in a statement.

NecLife in the last year has signed long-term contracts with leading formulation marketing companies in Southeast Asia and Africa.

"We believe we are well poised to take advantage of the opportunities the new markets have to offer", Dua added.

The certificate will boost NecLife business in the European market, as it is recognised by 35 signatory states of the European Pharmacopoeia Convention and by the European Union.

Cefuroxime Axetil, an antibiotic eliminates bacteria that cause different kinds of infections, including infections of the lungs, ear, throat, urinary tract, and skin.