Genomma Lab Internacional, a pharmaceutical and personal care product company in Mexico, announced that the Mexican Ministry of Health's Federal Committee for Protection from Sanitary Risks ("COFEPRIS") granted its approval of the sanitary license for the oral liquids, topical liquids and tablet coatings operations at Genomma Lab's Medicinas y Medicamentos Nacionales ("MMN") manufacturing facility in the State of Mexico.
The Company's OTC plant Operating License phase has therefore concluded and all manufacturing lines are able to manufacture a wide range of pharmaceutical products, effective immediately.
Rodrigo Herrera, Genomma Lab's Chairman, commented: "The expanded operating license enables Genomma to now manufacture an extensive line of pharmaceutical dosage forms, representing a crucial milestone on our journey and further strengthening Genomma's position as the Pharma and Personal Care products leader in the Americas."
He continued, "The Plant has been meticulously designed to yield a maximum return on invested capital, fueling a trajectory of profitable and enduring expansion. We remain focused on these and other important initiatives to ensure ongoing efficiency gains and profitability."
Marco Sparvieri, Genomma's CEO, added, "At our 2023 Investor Day, we committed to leveraging our manufacturing facility to support Genomma's journey and deliver significant productivity savings by 2027. Genomma's Industrial Complex capabilities come into play here, driving optimal agility and swiftness across pivotal processes such as manufacturing, product innovation, and service operations."
He continued, "Further, it will curtail manufacturing expenses and ensure appropriately sized inventory levels, contributing to an enhanced cash conversion cycle in the medium term."
Next Phases:
Genomma's manufacturing facility was granted its operating license and Good Manufacturing Practices (GMP) certification in September 2021 for its solid and semi-solid pharmaceutical dosage forms. This GMP permits Genomma to sell manufactured products in the domestic market.
The Company will actively focus on the next phase of remaining regulatory permits for its oral liquids, topical liquids and tablet coatings: GMP certification for the Mexican market and, subsequently, international markets.
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