The company received the letter of intent (LOI) after emerging as a successful bidder in the Tariff-Based Competitive Bidding (TBCB) process, as per the guidelines issued by the Union Ministry of Power. It is bio-equivalent and therapeutically equivalent to the reference listed drug (RLD), Revatio for Oral Suspension, 10mg/ml, of Viatris Specialty LLC. At the end of the inspection, the Company has received Form 483 with three (3) observations. Avantel Ltd has received a Provisional Purchase Order worth of Rs.67.92 crore vide mail dated December 2, 2023, from NewSpace India Limited. Ltd., a Singapore based Company, by Prime Research and Advisory Ltd, a wholly owned subsidiary of the Company.

Source: The Hindu December 04, 2023 18:36 UTC