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CARE assigns ratings to Ipca Laboratories’ bank facilities

Credit rating agency, CARE has assigned ‘AA (Stable)/ A1+’ rating to Ipca Laboratories’ long-term/short-term bank facilities worth Rs 1190 crore. The ratings assigned to the bank facilities of Ipca Laboratories (Ipca) derive strength from the proven track record of more than six decades and experienced promoters, global presence and dominant market position in anti-malarial and pain management drugs in the domestic pharmaceutical industry, strong and diversified product portfolio with backward integrated and diversified operations.

The ratings also positively factor the continuous product development in terms of Research & Development and improvement in operational performance during 9MFY17. Ipca has also consistently exhibited a strong financial risk profile with comfortable capital structure and liquidity profile.

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