Ipca Lab gains on USFDA nod for Indore facility

Ipca Laboratories has moved higher by over 5% at Rs 393 after the company said it has received US-FDA approval for its oral solid dosage formulations manufacturing facility situated at Pharmazone, SEZ Indore, Pithampur, Madhya Pradesh.

“This approval will enable the company to commercialize more oral solid dosage formulations in the US market,” Ipca Laboratories said in a filing.

The stock opened at Rs 374 and hit a new high of Rs 397 on the Bombay Stock Exchange. As many as a combined 162,000 shares have already changed hands on the counter till noon deals, against an average around 120,000 shares that were traded daily in past two weeks.