Indoco Remedies gallops after Goa facility gets EU GMP certification

Indoco Remedies jumped 3.94% to Rs 154.35 after the company said its sterile facility in Goa received EU GMP certification from the UK Health regulator.

Indoco Remedies announced during market hours today, 16 December 2019, that its sterile manufacturing facility (Plant II) at Verna, Goa, has received European Union Good Manufacturing Practice (EU GMP) certification from the UK Health Regulator. This is an outcome from the last successful inspection conducted by UK-MHRA from 16th to 20th September 2019.

Indoco Remedies has tumbled 8.04% in last three months as compared to a 0.28% decline in Nifty Pharma index.

Indoco Remedies reported a consolidated net profit of Rs 7.81 crore in Q2 September 2019 compared with a net loss of Rs 7.45 crore in Q2 September 2018. Net sales rose 21.1% to Rs 286.21 crore in Q2 September 2019 from Rs 236.26 crore in Q2 September 2018.

Indoco Remedies is a fully integrated, research-oriented pharma company with presence in 55 countries. The company has 9 manufacturing facilities, 6 of which are for FDFs and 3 for API.

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