Caplin Point Lab eyes US markets for growth

An export oriented Indian drug company, Caplin Point Lab which has majority of its sales from Latin America (90 per cent of sales) is expected to obtain an Establishment Inspection Report (EIR) by the US Food and Drug Administration (FDA) for its injectable facility.  The company's promoter while talking to media explained that he expects Caplin Point to enter the US markets by 2018  year end.

Access to one of the largest and most lucrative pharmaceutical markets in the world augurs well for the stock.  The company can gain significantly from the US market access as value-wise and volume-wise the growth can be expected to be significant. The promoter further explained that the company is waiting for the facility approval only and the products have been already developed.

The stock touched its 52-w high on Tuesday. The stock reached Rs 427 per share, thus making a new high for itself. Currently trading at Rs 413 per share the stock is up by almost five per cent on an intraday basis. In one year the stock has gained by almost 61 per cent.