Indoco Remedies share price climbs 6% after FDA all-clear for Hyderabad unit
Indoco said the inspection was successfully conducted without any observations.
November 26, 2019 / 10:35 AM IST
Indoco Remedies share price gained 6 percent intraday on November 26 after the US health regulator cleared its Hyderabad unit.
The stock has gained 11 percent in five trading sessions. It was quoting at Rs 160, up Rs 5.45, or 3.53 percent, on the BSE at 1008 hours.
"....received the Establishment Inspection Report (EIR) for its Clinical Research Organisation, AnaCipher, located at Hyderabad after the inspection," the pharma company said in a BSE filing.
The inspection was carried out by the United States Food and Drug Administration (division of New Drug Bioequivalence Evaluation) during August 5-9.
Indoco said the inspection was successfully conducted without any observations and stood closed.
"We strictly adhere to regulatory guidelines and maintain highest standards in delivering quality services to our clients. This has resulted in zero 483s in the last five successive USFDA inspections," Managing Director Aditi Kare Panandikar said, referring to the form issued to a firm at the end of an inspection if something is found amiss.