lndoco Remedies announced that it has received the Establishment Inspection Report (EIR) from the US Food and Drug Administration (USFDA) for their sterile facility (Plant II) and solid dosages facility (Plant Ill) at Verna, Goa. The inspection was held from May 27, 2019 to June 04, 2019, where the Company had received 4 observations (483s).
Commenting on this positive development, Aditi Kare Panandikar, Managing Director - lndoco 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 VAi 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.
Indoco Remedies Ltd is currently trading at Rs176.10 up by Rs23.05 or 15.06% from its previous closing of Rs153.05 on the BSE.
The scrip opened at Rs152.45 and has touched a high and low of Rs183 and Rs152.45 respectively. So far 3,03,848 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs1,410.36cr.
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