Caplin Point gains 4 per cent post USFDA inspection

The shares of Caplin Point surged 4 per cent intraday after the company received no observations from the US drug regulator for its Gummudipoondi unit.
 

The USFDA conducted inspection at Caplin Point’s Sterile Injectable Site (CP - IV) located at Gummudipoondi, in Thiruvallur District, Tamil Nadu from August 30, 2018 to September 6, 2018 which was a scheduled inspection. The company thence received Form 483s with zero observations.

Caplin Point Laboratories product segments include antibiotics, non-steroidal anti-inflammatory drugs (NSAIDS), ophthalmics, pain management and anti-ulcers. It also manufactures a range of ointments, creams, gels and lotions.

On Friday, the shares of the company opened at Rs. 502 and closed at Rs 517.15, up by 3.82 per cent. It reached an intraday high of Rs. 529 and an intraday low of Rs. 502 per share on the BSE. Meanwhile, the BSE Sensex closed at level 38.389.82, up by 0.38 per cent and Nifty50 closed at 11,589.10 level, up by 0.45 per cent.