Moneycontrol
Last Updated : Jan 08, 2018 12:54 PM IST | Source: Moneycontrol.com

Indoco Remedies gains over 3% ahead of USFDA inspection for Goa unit 1 next week

Indoco's Unit-1, located in Goa, is an oral dosage manufacturing plant and the contribution of this unit to overall sales is small.

Indoco Remedies shares gained 3.5 percent intraday Monday ahead of inspection by the US health regulator for company's Unit-1 located in Goa.

Sources told CNBC-TV18 that the US Food and Drug Administration is expected to begin inspecting company's Unit 1 plant next week and it may be pre-approval inspection.

Indoco's Unit-1, located in Goa, is an oral dosage manufacturing plant and the contribution of this unit to overall sales is small.

Overall US business contributes around 25-30 percent of total export sales of Indoco Remedies.

The company has no comment with respect to US FDA inspection at Unit-1.

At 12:44 hours IST, the stock price was quoting at Rs 280.50, up Rs 4.05, or 1.47 percent on the BSE.
First Published on Jan 8, 2018 12:53 pm
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