USFDA gives nod to Indoco Remedies facilities in Goa

MUMBAI: Pharma player Indoco Remedies today said it has received a nod from United States' drug regulator for two of its facilities in Goa.

The US Food and Drug Administration (US FDA) has approved the sterile facility (plant-II) and solid dosage facility (plant -III) located at Verna in the adjoining coastal state, a company release said here.

"The nod will facilitate the generic approvals in the US market and subsequent product launches there," Indoco Chairman Suresh G Kare said. It will also boost high-margin revenues from the highly remunerative US market, the world's largest player in pharma space, he added.

Officials from USFDA visited the facilities in August last year. With this, the number of Indoco facilities having USFDA approvals has gone up to six, it said. These are three for finished dosages, two for APIs or active pharmaceutical ingredients and one for analytical, it added. The company derived 35 per cent of its revenues from exports in 2013-14.