Morepen Labs share price jumps 5% after UK standards body certifies company's Himachal unit
The stock surged over 100 percent in the last 1 month. There were pending buy orders of 299 shares, with no sellers available.
April 30, 2020 / 10:34 AM IST
The share price of Morepen Laboratories jumped 5 percent in morning trade on April 30 after the company received certification from BSI (British Standards Institution, UK) for its medical devices manufacturing facility at Baddi (Himachal Pradesh).
The stock has almost doubled over the last month and was quoting at Rs 18.65, up Rs 0.88, or 4.95 percent at 09:45 hours. There were pending buy orders of 299 shares, with no sellers.
Morepen Laboratories has received the prestigious ISO-13485 certification from BSI (British Standards Institution, UK) for its state-of-the-art medical devices manufacturing facility at Baddi (Himachal Pradesh). The certification has been awarded for the manufacturing, distribution and aftersales service of all point-of-care diagnostic medical devices and their accessories manufactured at the company’s facility in Baddi, the company said in a filing to the exchanges.
Experts rigorously audited the manufacturing facility and management systems, and the company was awarded the certification based on the comprehensive audit procedures undertaken by the notified body, it added.
"This ISO-13485 certification opens new vistas for Morepen to export its diagnostic devices to various countries across the globe and also to seek CE (Conformité Européene) Certification for the European Union. Having complied with all the important technical and regulatory guidelines for the Quality Management Systems as per ISO-13485, the company is confident of securing CE certification for its products as a next step," said Sushil Suri, Chairman and Managing Director, Morepen Laboratories.
Earlier this month, the company received the license to manufacture Hydroxychloroquine (HCQ) from State Drug Controller, (HP) for its Baddi plant in Himachal Pradesh.