Indoco Remedies gains on receiving approval from UK health regulator
DSIJ Intelligence / 12 May 2017
According to the management of the company, the approval will provide further impetus to the company's existing efforts in Europe.
Indoco Remedies in its filing on bourses on Friday claimed that it has received approval from the UK's health regulator for its solid dosages manufacturing plant in Goa.
The approval is the outcome of the inspection conducted in December 2016 for the plant that contributes 40 per cent of the international business of the company.
According to the management of the company, the approval will provide further impetus to the company's existing efforts in Europe.
Indoco Remedies is an integrated, research-oriented pharma company with presence in 55 countries.
Over one year period the stock is down by nearly 14.5 per cent. During the similar period the BSE Healthcare index is down by nearly 2 per cent.
On YTD basis the stock is down by nearly 13 per cent.
Indoco Remedies is up by nearly 0.20 per cent at Rs 225.35 per share. The stock touched an intraday high of Rs 228 per share in the opening hours of the trade.
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