Caplin Point Laboratories's CRO Amaris Clinicals completes USFDA audit with zero observations

Caplin Point Laboratories Limited (BSE: CAPPL (524742), NSE: CAPLIPOINT) Amaris Clinicals (Amaris), the Clinical Research Organization (CRO) division of Caplin Point Laboratories Limited, located at Chennai, has completed a virtual audit from United States Food and Drug Administration (USFDA) with NIL observations.

Chairman C. C. Paarthipan commented "It is an excellent milestone for our group, and shows our commitment to maintaining the highest standards of quality and compliance at all our units. In addition to being a profit centre on its own in the coming years, Amaris will facilitate cost effective and quicker foray into newer geographies we plan to expand, where BA/BE studies are required for product approvals. Considering the potential increase in demand for these activities, we will be expanding capacities at this site shortly."

The company targets approvals on mutual recognition basis from other regulatory bodies, including ones from Latin America, a key geography for Caplin Point.

Shares of Caplin Point Laboratories Ltd. was last trading in BSE at Rs. 895.25 as compared to the previous close of Rs. 901.05. The total number of shares traded during the day was 22212 in over 1641 trades.

The stock hit an intraday high of Rs. 917.7 and intraday low of 891. The net turnover during the day was Rs. 20045971.

Source : Equity Bulls

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