RPG Life Sciences rallies 14% on receiving GMP certificate for Gujarat facility

NEW DELHI: Shares of RPG Life Sciences closed higher by 13.92 per cent on Wednesday after the company informed the BSE that it has received GMP (good manufacturing practice) certificate from the German authority for its formulation manufacturing facility in Gujarat.

The company said that Bavarian Authority, a competent authority in Germany, has granted GMP certificate to the company for its formulation manufacturing facility at 3102/A, G.l.D.C. Industrial Estate, Ankleshwar, District Bharuch, Gujarat.

“This is a major milestone for us. The certification will help in boosting sales by expanding the company’s geographical presence in the European markets. It also reinforces the quality systems established by the company in line with the current stringent good manufacturing practices,” said CT Renganathan, Managing Director at RPG Life Sciences.

The stock jumped 13.92 per cent to close at Rs 266 on BSE.

Incorporated in the year 2007, the smallcap company is a part of the RPG group and is engaged in manufacturing and marketing of health care products.