Shares of Indoco Remedies rose 1.85 per cent to ₹346.90 on the BSE at 2.38 pm on Tuesday.
The company has received official Action Indicated (OAI) status from the US Food and Drug Administration (USFDA) for its Plant II and III facility in Verna, Goa, India.
According to the exchange filing, the USFDA inspection conducted from July 16 to July 26, 2024 identified significant compliance issues at the facility. The specific details of the violations have not yet been released.
Moreover, the company has assured its commitment to resolve the issues quickly and work closely with USFDA. They also stated that it would continue to supply products from the facility to meet its obligations to customers and patients in the US.
The stock hit a 52-week high of ₹416.95 on January 1 and a low of ₹286.50 on June 6.
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