Shares of Caplin Point Labs jumped over 13 percent to a fresh 52-week high in trade on August 19, after the Brazilian Health Regulatory Agency concluded its inspection.
The regulatory agency or ANVISA conducted an inspection of Caplin Steriles’ injectable and
ophthalmic manufacturing facility located at Gummidipoondi. The inspection was conducted between August 12 and 16, 2024 and was concluded with zero observations.
At 12 noon, Caplin Point Labs stock was quoting Rs 1,794.25, up 13.2 percent on the NSE.
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The firm's chairman C C Paarthipan said, “It is indeed gratifying to have two back to back audits with zero observations. We remain steadfast in our commitment to maintaining the highest levels of quality compliance at all our sites."
Brazil is an important part of our expansion plans in Latin America and this clearance opens the door to the largest market in that geography, he added.
Over the past 12 months, Caplin Point Laboratories shares have jumped over 70 percent, outperforming the frontline Nifty 50 index that has gained around 27 percent in trade during the same time period.
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