Bal Pharma shares climbed nearly 6 percent after the commencement of commercial production at Udaipur unit.
The company informed exchanges that after obtaining all the regulatory approvals, its bulk drugs manufacturing unit at Udaipur has commenced commercial production of intermediates and active pharma ingredients (API).
The API products which of scheduled to be manufactured at this Unit were developed by R&D facility at Bangalore and due to capacity constraints at Bangalore facility they could not become commercially viable till now, the company said.
This unit is expected to ease the capacity concerns of API's and intermediates and will cater to the North are Northeastern markets of the country and also overseas markets, it added.
To recapitulate, Bal Pharma has acquired 100 percent shareholding and management control of Golden Drugs Pvt Ltd, Udaipur, Rajasthan, during March 2018, which is into manufacturing of API's and intermediates.
At 11:50 hours IST, the stock was quoting at Rs 82.90, up Rs 3.20, or 4.02 percent on the BSE.
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