Indoco Remedies Goa plant gets UK MHRA nod, share up 7%

Indoco Remedies on Thursday got an approval from the UK drug regulator Medicines and Healthcare Products Regulatory Agency (MHRA) for its solid dosages manufacturing plant in Goa.

The company, in an exchange to BSE said the plant-1 was inspected by MHRA in December last year.

International formulations contributed about 40 percent to Indoco's Rs.973 crore revenue in FY16. UK contributes nearly one-third to the company's revenue.

Shares of the company rose 6.57 percent and were trading at Rs.243.30 on BSE at 2.14 pm, the benchmark Sensex gained 0.15 percent to 30,294.46 points.