Ipca Laboratories has soared 9% to Rs 705 after the pharmaceutical company said it has received US-FDA approval for its oral solid dosage formulations manufacturing facility situated in Madhya Pradesh.
Following an inspection, the US-FDA has found acceptable the company's oral solid dosage formulations manufacturing facility situated at Pharmazone, SEZ Indore, Pithampur, Madhya Pradesh, Ipca Laboratories said in a filing.
This will enable the company to commercialize oral solid dosage formulations in the US market from this formulations manufacturing facility, it added.
In November 2012, during the course of the internal quality assurance review, the company had noticed a few non-conformances at the said manufacturing unit and the issue was under discussion with them for an appropriate resolution.
The stock opened at Rs 651 and touched low of Rs 644 in early noon deals on BSE. A combined 142,000 shares change hands on the counter so far on BSE and NSE.
Following an inspection, the US-FDA has found acceptable the company's oral solid dosage formulations manufacturing facility situated at Pharmazone, SEZ Indore, Pithampur, Madhya Pradesh, Ipca Laboratories said in a filing.
This will enable the company to commercialize oral solid dosage formulations in the US market from this formulations manufacturing facility, it added.
In November 2012, during the course of the internal quality assurance review, the company had noticed a few non-conformances at the said manufacturing unit and the issue was under discussion with them for an appropriate resolution.
The stock opened at Rs 651 and touched low of Rs 644 in early noon deals on BSE. A combined 142,000 shares change hands on the counter so far on BSE and NSE.
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