Pharma firm IOL receives approval from European regulators to export paracetamol

IOL Chemicals and Pharmaceuticals has been granted a Certificate of Suitability by the European Directorate for the Quality of Medicines and Healthcare (EDQM) to export paracetamol to the European market.

One of the top pharmaceutical (APIs) firms and a prominent player in the market for specialty chemicals, a listed company was established in 1986. Paracetamol is widely used in medications prescribed for pain relief and fever treatment.

The pharma firm informed stock exchanges on Monday that, “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.”

In 2022, the company’s Punjab-based factory will begin commercial production of paracetamol. It can currently produce 3,600 tonnes of paracetamol in total.

The UK, Belgium, Hungary, Spain, Germany, Italy, Netherlands, Switzerland, Poland, Ireland, the United States, Peru, Brazil, Argentina, Colombia, Indonesia, South Korea, Thailand, Bangladesh, Turkey, United Arab Emirates, China, Hong Kong, and Egypt are the nations where it has consumers abroad.