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Shilpa Medicare shine on getting EIR from USFDA for Finished Dosage Formulation Facility

Shilpa Medicare is currently trading at Rs. 285.45, up by 10.55 points or 3.84% from its previous closing of Rs. 274.90 on the BSE.

The scrip opened at Rs. 285.00 and has touched a high and low of Rs. 288.60 and Rs. 280.00 respectively. So far 1172 shares were traded on the counter.

The BSE group ‘B’ stock of face value Rs. 1 has touched a 52 week high of Rs. 433.10 on 23-Apr-2019 and a 52 week low of Rs. 190.80 on 04-Sep-2019.

Last one week high and low of the scrip stood at Rs. 288.60 and Rs. 260.10 respectively. The current market cap of the company is Rs. 2241.17 crore.

The promoters holding in the company stood at 53.80%, while Institutions and Non-Institutions held 26.95% and 19.25% respectively.

Shilpa Medicare has received Establishment Inspection Report (EIR) from US Food and Drug Administration (USFDA) on October 2019, for the Finished Dosage Formulation Facility (Sterile and Non-sterile Dosage Forms) located at 5-20 to 5-26, Pharmaceutical Formulations SEZ, APIIC, Jadcherla in the state of Telangana.

The company’s finished dosage form facility was inspected by US FDA from August 29, 2019 to September 6, 2019. USFDA has concluded the Inspection, with determination that the inspection classification of this facility is ‘voluntary action indicated’ (VAI). This facility is in acceptable state of compliance with regards to current good manufacturing practice (CGMP).

Shilpa Medicare produces and exports consistently high-quality Active Pharmaceutical Ingredients Fine Chemicals, intermediates, herbal products and speciality chemical products using sophisticated technology, meticulously following international specifications.

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