Indoco Remedies jumps by 10 per cent

Indoco Remedies received the Establishment Inspection Report (EIR), with no observations for its Clinical Research Organisation, AnaCipher, which is located in Hyderabad. Reacting to this news, the stock of the company jumped by 10 per cent.

The inspection was carried out by the United States Food and Drug Administration (USFDA) (a division of New Drug Bioequivalence Evaluation) from August 5 to 9, 2019. The inspection completed without any observations. Ms. Aditi Kare Panandikar, the managing director of Indoco Remedies Limited, mentioned in the press release of strictly adhering to regulatory guidelines and maintaining the highest possible standards in delivering quality services to its clients. This has resulted in zero 483s in the last five successive USFDA inspections. The CRO - AnaCipher conducts Bioequivalence and Bioavailability (BA/BE) study at its facility, which is spread over an area of 30,000 sq. ft. with around 98 beds. The CRO also has expertise in Bioanalytical work for new chemical entities (Phase I-III studies).

Indoco Remedies Limited is a research-oriented pharma company.

On Tuesday, the stock of the company closed at Rs. 170, up by 10 per cent or Rs. 15.45 per share. The 52-week high is Rs. 238 and the 52-week low is Rs. 133.10 on BSE.