Pharma firm IOL gets European regulator's nod for paracetamol exports

New Delhi [India], May 8 : IOL Chemicals and Pharmaceuticals has received the European Directorate for the Quality of Medicines and HealthCare's (EDQM) Certificate of Suitability (CEP) to export paracetamol to the European market.

Established in 1986, a listed company is one of the leading pharmaceutical (APIs) compes and is a significant player in the speciality chemicals space.

Paracetamol is commonly used in medication prescribed for pain relief and to treat fever.

"The certification issued by the EDQM verifies the compliance of pharmaceutical substances and with this backing, IOL will now be able to export paracetamol to the European continent," the pharma firm informed stock exchanges on Monday.

The company started commercial production of paracetamol in 2022 in its Punjab-based facility.

At present, it has a total capacity of 3,600 tonnes to produce paracetamol.

Its overseas customers are spread out across several countries including the UK, Belgium, Hungry, Spain, Germany, Italy, Netherlands, Switzerland, Poland, Ireland, the US, Peru, Brazil, Argentina, Colombia, Indonesia, South Korea, Thailand, Bangladesh, Turkey, U.A.E., China, Hong Kong, Egypt.