Indoco Remedies Ltd receives OAI status from USFDA for Goa Plant 2 & 3

Indoco Remedies Limited (Indoco) has announced the receipt of regulatory status from U.S. Food and Drug Administration (USFDA), for our facilities located at Goa Plant-II & III, L-32,33,34, Verna Industrial Area, Verna, Goa, Goa 403722, India (Facility), following an inspection conducted by USFDA in July 2024. The USFDA has determined that the inspection classification of this Facility remains as 'Official Action Indicated' (OAI).

The Facility had been inspected by the USFDA in February 2023 and had received an OAI status in May 2023. Indoco is comprehensively working on the remedial action plan at the Facility which will be completed by Q3 2024.

Indoco had planned to inform USFDA for the inspection readiness post completion of the remedial action. However, USFDA had visited the Facility in July 2024, while the remedial action was still in progress. Hence, the compliance status of the Facility received as 'OAI' dated 10th October 2024, remains the same.

Commenting on this, Ms. Aditi Panandikar, Managing Director mentioned, "We are working holistically towards meeting the expectations of the regulators and are committed to remain focussed on compliance to deliver products of high-quality standards."

Shares of Indoco Remedies Limited was last trading in BSE at Rs. 336.65 as compared to the previous close of Rs. 342.60. The total number of shares traded during the day was 18657 in over 937 trades.

The stock hit an intraday high of Rs. 343.70 and intraday low of 332.30. The net turnover during the day was Rs. 6292827.00.

Source : Equity Bulls

Keywords

IndocoRemedies INE873D01024 Pharmaceuticals USFDA OAIStatus GoaPlant