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Indoco Remedies shares gain even as USFDA inspection ends with 9 observations

Indoco believes that this will not have an impact on the supplies and the existing revenues from this facility

January 23, 2023 / 01:46 PM IST
 
 
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The share price of Indoco Remedies jumped after the company said its Goa-based plant was inspected by the United States Food and Drug Administration (USFDA) and it issued some observations.

“The USFDA has conducted a GMP (good manufacturing practices) inspection of the Solid Oral Formulation Facility (Plant 1) at Goa. The inspection was conducted from January 16 to January 20,” Indoco said in an exchange filing.

The company added that the USFDA issued Form 483 with nine observations, which will be addressed within the stipulated time.

The update sent the stock zooming 3 percent as of 1.20pm to Rs 403 on Monday.