Concord Biotech receives EIR for Unit III

Concord Biotech Limited has announced that the United States Food and Drug Administration (USFDA) had conducted an inspection at Company's Manufacturing Unit III, Plot No. 84 And 668, Ranasar and Malawada, Limbasi Sojitra Road, Near Limbasi, Taluka- Matar, Kheda, Gujarat from Monday, 26th June, 2023 to Friday 30th June, 2023. Pursuant to the above inspection by United States Food and Drug Administration (USFDA), the Company has now received the Establishment Inspection Report (EIR) indicating closure of inspection and classifying the facility as "no action indicated" (NAI). Based on this inspection and the USFDA NAI classification, this facility is in compliance with regard to current good manufacturing practices (cGMP).

Cian Healthcare enters into agreement with CHI Pharmaceuticals Limited, Nigeria

Cian Healthcare Ltd is excited to embark on this business venture, targeting the Nigerian Market, and taking on the manufacturing responsibilities for CHI Pharma's product range including Supramult, Supramult Plus, GYNOCARE, Spora-Derm, and CHIFENAC, they are shifting this business from korea to our facility in India. The company has entered into an Agreement with CHI Pharmaceuticals Limited, Nigeria for manufacturing and supply of their products as mentioned above in the country of Nigeria, which is a great success of Company to increase Export Business.

Eris Lifesciences enters into term loan agreement with Citi Bank  

Eris Lifesciences Limited has entered into Term Loan Agreement dated 21 August 2023 to avail the Rupee Term Loan facility amounting to Rs. 120.82 crores from Citi Bank N.A.. However, the consolidated net debt of the company is not expected to be altered due to this development as an equivalent amount is expected to be paid by Eris Oaknet Healthcare Private Limited (EOHPL), to Citi bank towards repayments of outstanding loans over the next fortnight. The Bank shall have a pari-passu charge along with HDFC Bank on the trademarks acquired from Eris Oaknet Healthcare Private Limited.