IOL Chemicals - Updates
IOL Chemicals & Pharmaceuticals Ltd has informed BSE that the Company has entered into new segment of pharma class of proton pump Inhibitors by undertaking the implementation of project to manufacture Rabiprazole, an anti ulcer drug with a capax of Rs 75 crores, to strengthen the pharma business of the Company.
Rabiprazole is used to treat conditions where the stomach produces too much acid, including ulcers, gastroesophageal reflux disease (GERD), and Zollinger-Ellison syndrome. Rabeprazole is used in combination with other medications to eliminate H. pylori, a bacteria that causes ulcers. Rabeprazole is in a class of medications called proton-pump inhibitors. It works by decreasing the amount of acid made in the stomach.
The Company has already purchased requisite land required to establish the project and technical discussions with the domestic and foreign suppliers of machinery are on advanced stage.
Rabiprazole is going to be off patent during the year 2009, which will boost the demand for the product in India and offer opportunities for export to overseas.
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