Indoco Remedies zooms 16% in trade after UKMHRA's Goa plant inspection

Just three days ago, Indoco Remedies received 7 observations from the USFDA, which inspected its manufacturing facility at Plant II (Sterile) in Goa from August 27 to September 4.

Shares of Indoco Remedies on Thursday snapped a five-day losing streak, surging more than 16 per cent in intraday trade after the company announced the completion of an inspection at its Goa facility by the UK Medicines and Healthcare Products Regulatory Agency (UKMHRA).

 

The stock opened 13 per cent higher at ₹234.94 and extended gains to hit an intraday high of ₹269.90 on the NSE.

 

As of 3 PM, the stock was trading 11 per cent higher at ₹256.20, holding on to most of the day's gains. Today’s gains were accompanied by a spurt in trading volume, which was more than 3.57 times the average.

 

 

In comparison, the benchmark BSE Sensex traded 0.21 per cent lower at 74,609.

 

According to an exchange filing, the UK-MHRA current Good Manufacturing Practices (cGMP) inspection concluded with no critical or major observations. The regulator inspected its solid dosage manufacturing facility in Goa (Plant I) from September 7 to 9.

 

“This plant has been consistently catering to the regulated markets of the UK, Europe, South Africa, New Zealand, Australia and Canada for several years and is expected to contribute to approx. 30 per cent of total international business. The successful completion of the UKMHRA cGMP inspection with no critical or major observations is a strong validation of our robust quality systems," Aditi Panandikar, MD, Indoco Remedies, said.

 

Just three days ago, the company had received seven observations in Form 483 from the United States Food and Drug Administration (USFDA), which inspected its manufacturing facility at Plant II (Sterile) in Goa from August 27 to September 4.

 

Separately, today is also the ex-date for a final dividend for FY2026. Back in May, the company's board, along with the Q4FY26 results, had recommended a dividend of ₹0.20 per equity share on a face value of ₹2 for the financial year 2025-2026.

 

Indoco Remedies is engaged in the manufacturing and marketing of pharmaceutical Formulations (Finished Dosage Forms) and Active Pharmaceutical Ingredients (APIs).