Indoco Remedies surges 43% in two days as Goa plant clears USFDA inspection

The stock surged 20% to Rs 239 on the NSE in early morning trade on Monday, rallying 43% in past two trading sessions.

Shares of Indoco Remedies rallied 20% to Rs 239 apiece on the National Stock Exchange (NSE) in early morning trade on Monday, surging 43% during the past two sessions after the pharmaceutical company said the US health regulator cleared inspection of the company’s Goa plant II & III with two minor observations.

“The US Food and Drug Administration (USFDA) inspected the company’s sterile facility (plant II) and solid dosages facility (Plant III) situated at Goa from 14th November till 21st November 2018. The inspection concluded with the company receiving 2 minor observations, none of which are repeat in nature,”