Indoco Remedies' Goa facility gets EU GMP certification from UK health regulator; shares surge

Updated : December 16, 2019 03:16 PM IST

  • The UK's Medicines and Healthcare Products Regulatory Agency has given the certification after conducting an inspection in September.
  • The stock touched an intraday high of Rs 157.50 apiece as against the previous close of Rs 148.50 on the BSE.

Shares of Indoco Remedies jumped over 6 percent on Monday after it said that its sterile manufacturing facility (Plant II) in Goa received EU Good Manufacturing Practice (GMP) certification from the UK health regulator.

The stock touch intraday high of Rs 157.50 apiece as against the previous close of Rs 148.50 on the BSE.

The UK's Medicines and Healthcare Products Regulatory Agency (MHRA) has given the certification after conducting an inspection from September 16-20, the company said.

“The receipt of EU GMP certification from MHRA for our sterile manufacturing unit is encouraging and reflects immense learning and adaptation of a compliant culture by our technical team," said Aditi Kare Panandikar, Managing Director, Indoco Remedies Ltd.

At 2:45 pm, shares of Indoco Remedies traded 4.11 percent higher at Rs 154.60 on the BSE.