Shilpa Medicare surges up by 10 per cent

The stock of Shilpa Medicare spiked up during the early morning session on Wednesday has the company's facilities received EIR from the US drug regulator.

USFDA conducted the inspection in January 2018. The regulator issued EIR (Establishment Inspection Report) to two API manufacturing facilities of Shilpa Medicare located at Raichur, Karnataka.

The company's plants have clearance for gram-to-kilo scale synthesis from various regulatory authorities including WHO-GMP and European-GMP.

Shilpa Medicare is pharma major with expertised in generics products. The company engages in development and production of a ranges generic products including APIs, injectable, solid orals, small peptides, novel drug delivery systems. The company focuses primarily on oncology and anti-retroviral therapeutic areas.

At 9:59 hours, the stock of Shilpa Medicare was trading at Rs. 424.00 per share, up by Rs. 40.50 or 10.56 per cent on Wednesday, while BSE Sensex was at 36,234.60, down marginally by 0.01 per cent.