Indoco Remedies Limited has received approval from the UKMHRA (Medicines and Healthcare Products Regulatory Agency) for its new solid dosages manufacturing facility in Baddi, Himachal Pradesh(Baddi III unit). The inspection was held from 16th to 18th October, 2018.

Commenting on the approval, Managing Director - Indoco Remedies Limited, Ms. Aditi Panandikar said, "This is the first Regulatory inspection for the plant, which was acquired in 2016. The outcome of this inspection is positive and is a testimony that Indoco maintains global quality standards and follows strict GMP guidelines. The facility will cater mainly to the European markets".

The facility is spread over an area of 18000 sqm, with manufacturing capacity of 4.3 billion tablets and 50 million capsules p.a.

Shares of INDOCO REMEDIES LTD. was last trading in BSE at Rs.184 as compared to the previous close of Rs. 191.85. The total number of shares traded during the day was 1430 in over 77 trades.

The stock hit an intraday high of Rs. 192.05 and intraday low of 184. The net turnover during the day was Rs. 269733.

Source: Equity Bulls