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 located in Verna, Goa, India.

According to its exchange filing, the USFDA inspection has conducted from July 16 to July 26, 2024, identified significant compliance issues at the facility. The specific details of the violations have not been disclosed yet.

Furthermore the company has assured its commitment to resolving the issues promptly and working closely with USFDA. They have 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 it low of ₹286.50 on June 6.

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