Pan Pharmaceuticals, previously Australia's biggest manufacturer of vitamins and natural remedies, could be on the way to recovery.
The country's medicines watchdog the Therapeutic Goods Administration (TGA) has issued a statment confirming that its recent audit of company's plant in Sydney found a satisfactory level of compliance with Good Manufacturing Practice requirements for the production of soft gel capsule products.
The company, which is currently being administered by a liquidator, has indicated it will now apply formally for a licence reinstatement with conditions to restrict manufacture to low risk soft gel capsules such as herbals, vitamins and minerals.
The TGA said it could be in a position to lift the licence suspension in the near future.
The TGA ordered a recall of almost 200 Pan Pharmaceuticals products after finding issue with its quality control and manufacturing procedures. The recall, the largest in Australia's history, had major repercussions throughout the natural products industry.