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Shilpa Medicare Ltd has informed BSE that the Board of Directors of the Company at its meeting held on June 30, 208, has allotted 750,000 equity shares of Rs 2/- at a premium of Rs 78/- to the following share warrant holders.

1. Name of the Proposed Allottees: Smt. Dharmavati Bhutada
No. of Warrants to be Subscribed: 300000

2. Name of the Proposed Allottees: Smt. Kantabai Innani
No. of Warrants to be Subscribed: 150000

3. Name of the Proposed Allottees: Smt. Manjulata Innani
No. of Warrants to be Subscribed: 150000

4. Name of the Proposed Allottees: Shri. Ramakant Innani
No. of Warrants to be Subscribed: 150000.

Shilpa Medicare Ltd has informed BSE that the Company has purchased 89540 shares i.e. 99.99% share of LOBA Feinchemie, Vienna an Austrian Company. These shares bought by Shilpa through its subsidiary, i.e. ZATORTIA Holdings Ltd, Limmasol, Cyprus.

LOBA is an ISO 9001 certified Company, approved by Austrian Ministry of Health and USFDA for GMP production of APIs. For Shilpa, this acquisition will be helpful to access the highly regulated markets of Europe and US.

With reference to the earlier announcement dated October 16, 2007 regarding “Shilpa Medicare signs MoU to acquire Austria’s LOBA Finchemie”, Shilpa Medicare Ltd has informed BSE that acquisition of Austrian Company is concluded on March 28, 2008.

Shilpa Medicare Ltd has informed BSE that the Company has received the Certificate of
Suitability of Monographs of the European Directorate for the Quality of Medicines (EDQM) for the Active Pharmaceutical Ingredient (API) Oxaliplatin EP.

Shilpa Medicare Ltd is first Company in India and fifth Company in world to get COS from EDQM for Oxaliplatin EP. With this approval the Company can penetrate the European Markets.

Therapeutic action: Treatment of metastatic rectal colon cancer after prior treatment with fluoropyrimidines in mono-chemotherapy or associated treatment.

The worldwide sales for Oxaliplatin in 2006 amounted to US$ 1.9 billion and growing at 28% per year.

Shilpa Medicare Ltd has informed BSE that the Company has received the Certificate of
Suitability of Monographs of the European Directorate for the Quality of Medicines (EDQM) for the Active Pharmaceutical Ingredient (API) Buflomedil Hydrochloride.

The Company is the first Company in India and third Company in world to get COS from EDQM for Buflomedil HCI.

Buflomedil is a vasoactive agent claimed to have beneficial effects on the microcirculation. It is used chiefly to treat peripheral vascular disease and to a lesser extent for cerebrovascular arterial disease. With this approval the Company can penetrate the European Markets.