Indoco Remedies surged 5.05% to Rs 157 after the company said it received establishment inspection report for its manufacturing facilities in Goa.

The company announced before market hours on Monday, 25 November 2019, that it has received an establishment inspection report (EIR) from the US Food and Drug Administration (USFDA) for its sterile facility (plant II) and solid dosages facility (plant III) at Goa. The inspection was carried out between 7th and 15th October 2019. This was a pre-approval inspection for a sterile injectable product, with 2 observations on Form 483s, which is now concluded as closed. The inspection classification of this site has been determined as VAI (Voluntary Action Indicated) by the USFDA.

Meanwhile, the NSE Nifty 50 index was trading 0.25% higher at 11,943.65.

Indoco Remedies is a fully integrated, research-oriented pharmaceutical company with presence in 55 countries.

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