Caplin Point gains after getting EU GMP approval for sterile injectable site

Caplin Point Laboratories rose 1.47% to Rs 999.75 at 11:50 IST on BSE after the company received EU GMP approval for its small volume sterile injectable liquids facility in Chennai.

The company made announcement during trading hours today, 9 July 2015.

Meanwhile, the S&P BSE Sensex was down 29.45 points or 0.11% at 27,658.27.

On BSE, so far 11,505 shares were traded in the counter as against average daily volume of 5,948 shares in the past one quarter.

The mid-cap stock hit a high of Rs 1,033 and a low of Rs 989.75 so far during the day. The stock hit a record high of Rs 1,361.50 on 9 April 2015. The stock hit a 52-week low of Rs 246 on 18 July 2014.

Caplin Point Laboratories said the site was inspected by the EU authorities in March 2015 and has been certified as complaint with the guidelines stated in Art. 111 (5) of directive 2001/83/EC. The facility is capable of manufacturing liquid injectables in vials, ampoules, lyophilized vials and ophthalmic dosages.

EU approval grants access not only to the European Union, but also several other countries in the regulated domain through mutual recognition process.

On consolidated basis, Caplin Point Laboratories' net profit rose 49.4% to Rs 10.61 crore on 44.8% rise in total income to Rs 64.32 crore in Q3 March 2015 over Q3 March 2014.

Caplin Point is into manufacturing of a wide range of ointments, creams and other external applications in addition to the regular segments of pharmaceutical formulations.

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