Caplin Point Labs gains on approval from Colombia’s INVIMA for Puducherry facility

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Caplin Point Laboratories shares gained in morning trade on Monday after the company announced receiving approval from Colombia’s National Institute of Drug and Food Surveillance (INVIMA) for its Softgel Capsules division located in Puducherry.

The company informed the bourses in a filing that the site inspection was completed by the Colombian drug regulator on May 3 and the site was found to be compliant with INVIMA’s norms.

“The site inspection of Unit-1 was completed on May 3 and found compliant as per INVlMA’s norms of Good Manufacturing Practices (GMP) and Good Laboratory Practices (GLP),” the company said.

Commenting on the development, CC Paarthipan, Chairman, Caplin Point Laboratories, said that the expansion into larger markets of Latin America is an important aspect of the company’s growth plan.

“Expansion into larger markets of Latin America such as Colombia, is an important aspect of our future growth, and this approval, especially in the niche Softgel Capsules range will contribute well to the same,” Paarthipan said in an official release.

After the announcement, shares of the company gained as much as 1.71% to hit an intraday high of ₹1,321 apiece on the BSE. However, shares of Caplin Point Labs pared some of the early gains to trade at ₹1,294.55, down 0.33%, on the BSE at 12:36 PM.

The company also mentioned in the release that it caters to the Latin American and African markets with a variety of dosage forms, such as tablets, capsules, suppositories, and other pharmaceutical offerings.

“The Unit currently caters to Emerging Markets of Latin America and Africa with a variety of dosage forms such as Tablets, Capsules, Softgel Capsules, Suppositories, Liquid Orals, Topicals and Injectables,” the company said.

Caplin Point Laboratories is a leading player in the pharmaceutical industry, with a significant presence in Latin America, Africa, the United States and the European Union. The company has 4,000 product licences.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow