Caplin Point surges after getting Brazil's ANVISA approval for sterile injectable site

Caplin Point Laboratories surged 10.59% to Rs 1,540.50 at 13:40 IST on BSE after the company received approval from Brazil's National Health Surveillance Agency for its sterlite injectable manufacturing site at Chennai.

The announcement was made during market hours today, 3 September 2015.

Meanwhile, the BSE Sensex was up 351.05 points, or 1.38%, to 25,804.61.

On BSE, so far 23,509 shares were traded in the counter, compared with an average volume of 11,712 shares in the past one quarter.

Shares of mid-cap company hit a high of Rs 1,549.75, which is also a record high for the stock. The stock hit a low of Rs 1,399 so far during the day. The stock had hit a 52-week low of Rs 337 on 21 October 2014.

Caplin Point Laboratories said that the approval to the said facility by Brazil's National Health Surveillance Agency ANVISA (Agencia Nacional de Vigilancia Sanitaria) grants access to the company to register and market its products at the large and growing Brazilian Pharmaceutical market.

The facility is capable of manufacturing liquid injectables in vials, ampoules, lyophilized vials and ophthalmic dosages, was also recently approved by European Union good manufacturing practice (EU-GMP) in July.

Caplin Point Laboratories' consolidated net profit surged 81.8% to Rs 12.69 crore on 46.2% growth in net sales to Rs 70.13 crore in Q4 June 2015 over Q4 June 2014.

Caplin Point Laboratories currently has three fully functioning facilities and one more facility in the pipeline, capable of manufacturing a wide range of dosage forms and products catering to all segments of the pharmaceutical industry.

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