Mumbai-headquartered Marksans Pharma Limited has informed that it has received Certificate of suitability for Metformin Hydrochloride drug substance from the European Directorate for the Quality of Medicines and Healthcare (EDQM).

Marksans Pharma Limited engages in the manufacture and sale of formulations and active pharmaceutical ingredients in India. The company offers its products for various therapeutic areas, including anti-diabetic, cardiovascular, neuroscience, oncology, and anti-infective. The company also exports its products to Japan, Latin America, Bangladesh, Spain, Egypt, Jordan, Iran, Mexico, Germany, and Africa.

With the grant of this certificate of Suitability for Metformin Hydrochloride drug substance by EDQM, the doors of European markets have opened for the Company's API business.

Shares of the company gained Rs 1, or 4%, to settle at Rs 18. The total volume of shares traded was 3,625,654 at the BSE.