The US Food and Drug Administration (USFDA) inspected Indoco's sterile manufacturing facility in Goa (Plant II) from 7th October to 15th October, 2019. The audit was concluded successfully.

"This is the second successful Pre-Approval Inspection (PAI) of this site in less than 6 months, which indicates steady progress in review of our pending ANDAs. The Company has 39 ANDAs pending for approval from this site", said Ms. Aditi Kare Panandikar, Managing Director - Indoco Remedies Ltd.

The Inspection ended with 2 observations, neither of these are related to Data Integrity or the core Quality Management System and the Company will respond to the FDA within the stipulated time. The site continues to maintain its VAI status.

Shares of INDOCO REMEDIES LTD. was last trading in BSE at Rs.140.55 as compared to the previous close of Rs. 137. The total number of shares traded during the day was 2278 in over 158 trades.

The stock hit an intraday high of Rs. 145 and intraday low of 135.85. The net turnover during the day was Rs. 321570.

Source: Equity Bulls