Indoco Remedies: New Baddi facility receives UK-MHRA approval

Indoco Remedies announced that it received approval from the UK-MHRA (Medicines and Healthcare Products Regulatory Agency) for its new solid dosages manufacturing facility in Baddi, Himachal Pradesh (Baddi III unit). The inspection was held from October 16 to 18, 2018.

This is the first regulatory inspection of the plant which was acquired by the company in 2016. The facility will cater to the European markets. The facility is spread over an area of 18,000 sqm, with a manufacturing capacity of 4.3 billion tablets and 50 million capsules p.a.

The company has nine manufacturing facilities, six of which are for FDFs and three for APls, supported by a state-of-the-art R&D Centre and a CRO facility. The facilities have been approved by USFDA, UK-MHRA, TGA-Australia, MCC South Africa, etc. Indoco develops and manufactures a wide range of pharmaceutical products for the Indian and international markets. It generates more than 70 million prescriptions annually from around 3,10,000 doctors belonging to various specialities. On the international front, Indoco has tie-ups with large generic companies like Watson (Actavis) – USA and ASPEN-South Africa.

On Wednesday, the stock of Indoco Remedies was trading at Rs. 185 per share, down 0.38 per cent on the BSE.