Indoco Remedies announced that the Inspection Action Group (lAG) of the United Kingdom has confirmed that the GMP status for its Goa Plant I has been fully re-instated by UK regulator, The Medicines and Healthcare Products Regulatory Agency of the United Kingdom (UK-MHRA).

This is an outcome of the full GMP inspection conducted by the MHRA from May 21- 23, 2019. MHRA had inspected the Goa Plant I in March 2018, which resulted in issuance of a restricted GMP certificate for medicinally critical products and a statement of non- compliance was published in the EUDRAGMDP data base.

Subsequently UK-MHRA conducted a 'Focused Audit' in October 2018 and GMP audit in May 2019. These audits were completed with no Critical Observations and Indoco has now received a full GMP status for its Goa Plant I. The revenues from Goa Plant I were about Rs135cr in the year FY2017-18.

"Indoco continues to be quality driven and adapts & assimilates cGMP with strict adherence to environment, atient safety and efficacy in our processes and products. With this positive development, our operations in Europe will now take off on a fast-track.", said Ms. Aditi Panandikar, Managing Director - Indoco Remedies limited. Goa Plant I manufactures Solid Dosages,Liquid Orals and External Preparations.

Indoco Remedies Ltd is currently trading at Rs168.80 up by Rs9.55 or 6% from its previous closing of Rs159.25 on the BSE. The scrip opened at Rs151.20 and has touched a high and low of Rs175.10 and Rs151.05 respectively. So far 1,81,792 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs1,467.49cr.