Indoco Remedies Gets Approval From US Drug Regulator for Goa Facilities Press Trust of India | Updated On: July 22, 2014 00:18 (IST)

Mumbai: Pharma player Indoco Remedies on Monday said it has received a nod from the US Food and Drug Administration (FDA) for two of its facilities in Goa. The US health regulator has approved the sterile facility (plant-II) and solid dosage facility (plant -III) located at Verna in the adjoining coastal state, a company release said. "The nod will facilitate the generic approvals in the US market and subsequent product launches there," Indoco chairman Suresh G Kare said, adding that it will also boost high-margin revenues from the highly remunerative US market, the world's largest player in pharma space. Officials from the US drug regulator visited the facilities in August last year. With this, the number of Indoco facilities having approval from the US regulator has gone up to six, it said. These are three for finished dosages, two for APIs or active pharmaceutical ingredients and one for analytical, it added. The company derived 35 per cent of its revenues from exports in 2013-14.