Indoco Remedies Ltd has received the Establishment Inspection Report (EIR)from the USFood and Drug Administration (USFDA)for their sterile facility (Plant II) and solid dosages facility (Plant III) at Verna, Goa. The inspection was held from 27th May, 2019 to 4thJune, 2019, where the Company had received 4 observations (483s).

Commenting on this positive development, Ms. Aditi Kare Panandikar, Managing Director - Indoco Remedies Ltd. said, "We are happy to receive the EIR in less than two months from the date of inspection. This is encouraging, as the site has been endorsed with the VAl status twice this year, by the US Regulators. The recent inspection was a Pre-Approval Inspection for 3 ANDAs of injectable products filed through our partners."

The Company has 33 ANDAs pending for approval, out of which, 17 are for ophthalmics, 5 are for injectables and 11 are for solid dosages from the site.

Shares of INDOCO REMEDIES LTD. was last trading in BSE at Rs.152.2 as compared to the previous close of Rs. 155.75. The total number of shares traded during the day was 2111 in over 74 trades.

The stock hit an intraday high of Rs. 157.4 and intraday low of 147.9. The net turnover during the day was Rs. 323030.

Source: Equity Bulls