Indoco Remedies Shares Fall 4% on Receiving 4 Observations for Goa Facility

Shares of Indoco Remedies were trading 5% below on 20 October after the USFDA (the United States Food and Drug Administration) issued four observations for its Goa Facility.

In its regulatory filing, the company said that the USFDA conducted an inspection at the company’s solid oral formulation facility in Goa between 12 October and 18 October for its two ANDAs (Abbreviated New Drug Applications) filled by the Unit.

At the end of the preapproval inspection, the US regulator issued four observations in Form 483.

The company added that they are committed to addressing these observations within the stipulated time.

The shares of the company hit a 52-week high of Rs 423.10 on 2 January 2023 and a 52-week low of Rs 307 on 26 April.

At 10:51 am, the shares of Natco Pharma were trading 3.70% below at Rs 337.45 on NSE.

Indoco Remedies Shares Fall 4% on Receiving 4 Observations for Goa Facility

ABOUT Indoco Remedies

 

Indoco Remedies (Indoco) is a Mumbai-based pharmaceutical company that focuses on formulations with a presence in contract manufacturing and research. The Company is engaged in the manufacturing and marketing of pharmaceutical Formulations (Finished Dosage Forms) and Active Pharmaceutical Ingredients (APIs)

The Company enjoys a good position in the domestic market with 55 products ranking amongst the top 5 positions

Products – Market Rank – Market Share[2]
Cyclopam – 1 – 49.9%
Sensodent-K – 1 – 97.4%
Karvol Plus – 1 – 69.8%
Sensoform – 1 – 56.2%
Cital UTI – 1 -27.7%
Kidodent – 1 – 8.9%
Rexidin M – 1 – 82.4%

 

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