Caplin Point surges, eyes 52-week high as Brazil’s drug regulator approves manufacturing site

NEW DELHI: Stocks of drug maker Caplin Point Laboratories surged over 10 per cent in trade on Thursday after the company said it has received approval for its Sterile Injectable manufacturing site at Chennai from Brazil's drug regulator Anvisa.

The stock surged 10.55 per cent to Rs 1,540 and was on the verge of hitting its 52-week high of Rs 1,545.

“The facility, capable of manufacturing liquid injectables in vials, ampoules, lyphilized vials and ophthalmic dosages, was also recently approved by ET-GMP in July,” the company pointed out in a filing to BSE.

The company has recently added soft gelatin capsules, suppositories and carbapenem lines to its existing facilities for emerging markets.

Overall, the drug maker currently holds over 1,600 product licences across Latin America and Africa with another 400 in the pipeline. The company said it will be filing its first ANDAs by early 2016.

The stock has gained a whopping 283.31 per cent so far this calendar year, compared with 19.68 per cent rise in the BSE Healthcare index.