Indoco Remedies rose 0.7% to Rs 450.8 after the drug maker said it received GCP & GLP accreditation from the UK drug regulator for its clinical research organisation, AnaCipher, in Hyderabad.

Indoco said the virtual inspection was carried out from 4-7 May and 10-11 May 2021. The inspection covered all the phases of bioequivalence studies and was conducted successfully.

Aditi Kare Panandikar, MD of Indoco Remedies said, "This is an exciting step in our journey of excellence and a validation of our adherence to delivering quality services to our customers worldwide."

Hyderabad-based AnaCipher CRO is a USFDA inspected clinical research facility and is spread over 30,000 sq. ft area with 98 beds. The facility conducts bioequivalence and bioavailability (BA/BE) studies.

Indoco Remedies, headquartered in Mumbai, is a fully integrated, research-oriented pharma company with presence in 55 countries. On a consolidated basis, the company reported a 132% rise in net profit to Rs 39.66 crore on a 43% rise in net sales to Rs 381.43 crore in Q1 FY22 over Q1 FY21.

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