Caplin Point shares surge over 15% on Brazil’s ANVISA nod for Chennai unit

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New Delhi | Updated: September 3, 2015 5:22:04 PM

Share price of Caplin Point Laboratories surged over 11 per cent in the afternoon trade on Thursday after the company informed BSE that it has received approval from Brazil's National Health Surveillance Agency ANVISA (Agencia Nacional de Vigilancia Sanitaria) for its sterile injectable manufacturing site at Chennai.

Caplin Point and SensexAt 1.11 pm, Caplin Point Labs were trading 11.06 per cent higher at Rs 1547. (Photo: Reuters)

Share price of Caplin Point Laboratories surged over 15 per cent on Thursday after the company informed BSE that it has received approval from Brazil’s National Health Surveillance Agency ANVISA (Agencia Nacional de Vigilancia Sanitaria) for its sterile injectable manufacturing site at Chennai.

The scrip closed 15.22 per cent higher at Rs 1,605.

In a BSE filing, the company said, “The facility is capable of manufacturing Liquid Injectables in Vials, Ampoules, Lyophilized Vials and Ophthalmic dosages. The approval grants access to the company to register and market its products at the large and growing Brazilian Pharmaceutical market.”

The promoters holding in the company stood at 67.81 per cent while institutions and non-institutions held 1.82 per cent and 30.37 per cent, respectively.

For the quarter ended June 2015, the company posted a consolidated net profit of Rs 12.71 crore, up 81.25 per cent, against Rs 7.01 crore in the corresponding quarter a year ago.

Caplin Point Laboratories is a niche pharmaceutical company with a unique business model catering predominantly to emerging markets of Latin America and Africa

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