Home / BUSINESS / Indoco Remedies rises on receiving UK-MHRA’s nod for new solid dosages facility in Baddi

Indoco Remedies rises on receiving UK-MHRA’s nod for new solid dosages facility in Baddi

Indoco Remedies is currently trading at Rs. 187.95, up by 2.25 points or 1.21% from its previous closing of Rs. 185.70 on the BSE.

The scrip opened at Rs. 181.30 and has touched a high and low of Rs. 187.95 and Rs. 181.30 respectively. So far 199 shares were traded on the counter.

The BSE group ‘B’ stock of face value Rs. 2 has touched a 52 week high of Rs. 238.00 on 26-Nov-2018 and a 52 week low of Rs. 150.25 on 08-Oct-2018.

Last one week high and low of the scrip stood at Rs. 201.90 and Rs. 181.30 respectively. The current market cap of the company is Rs. 1704.78 crore.

The promoters holding in the company stood at 58.68%, while Institutions and Non-Institutions held 16.89% and 24.44% respectively.

Indoco Remedies has received approval from the UK-MHRA (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 October 16 to October 18, 2018. The facility is spread over an area of 18000 sqm, with manufacturing capacity of 4.3 billion tablets and 50 million capsules p.a.

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.

Indoco Remedies is engaged in the manufacturing and marketing of formulations (finished dosage forms) and active pharmaceutical ingredients (APIs) in India.

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