Indoco Remedies surges on receiving six observations from USFDA for its Goa Plant II

Indoco Remedies Ltd. | Pharmaceuticals & Drugs | Healthcare | BSE: 532612 | NSE: INDOCO

07 Sep 2016 Evaluate

Indoco Remedies is currently trading at Rs. 330.15, up by 8.85 points or 2.75% from its previous closing of Rs. 321.30 on the BSE.

The scrip opened at Rs. 322.75 and has touched a high and low of Rs. 360.35 and Rs. 297.10 respectively. So far 133303 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 360.35 on 07-Sept-2015 and a 52 week low of Rs. 244.00 on 25-Feb-2016.

Last one week high and low of the scrip stood at Rs. 360.35 and Rs. 312.00 respectively. The current market cap of the company is Rs. 3041.88 crore.

The promoters holding in the company stood at 59.24%, while Institutions and Non-Institutions held 20.71% and 20.05% respectively.

Indoco Remedies has received six observations from United States Food & Drug Administration (USFDA) for its Goa Plant II. USFDA had inspected the company’s Goa Plant II from August 31, 2016 to September 04, 2016. The injectable ANDA filings triggered this inspection.

At the end of the inspection, six 483s were issued. All the observations (483s) are correctable and the company expects to complete the corrective and preventive actions within a period of 30 days. None of the 483s are related to Data Integrity issue.

Indoco Remedies is engaged in the manufacturing and marketing of formulations (finished dosage forms) and active pharmaceutical ingredients (APIs) in India. Indoco, a $149 million company, employs over 5500 people including 300 skilled scientists.

Indoco Remedies Share Price

228.20 -23.05 (-9.17%)

08-May-2026 16:59 View Price Chart

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