Marksans Pharma shares surge 18% intraday, here is why

By: | Updated: March 17, 2016 4:56 PM

Marksans Pharma shares were trading 13.11 per cent up at Rs 53.50 (at 3 pm). The scrip opened at Rs 48.50 and has touched a high and low of Rs 56.20 and Rs 47.60, respectively, in trade so far. Sensex was trading 0.18 per cent up at 24,725.

marksans pharma shares, bse sensexMarksans Pharma shares advanced over 18 per cent intraday on Thursday after it received communication from UK MHRA informing that they are issuing a “Restricted GMP Certificate” (Photo: PTI)

Marksans Pharma shares advanced over 18 per cent intraday on Thursday after it received communication from UK MHRA informing that they are issuing a “Restricted GMP Certificate” allowing the company to continue manufacture and marketing of critical products for the UK markets.

The scrip was trading 13.11 per cent up at Rs 53.50 (at 3 pm). The scrip opened at Rs 48.50 and has touched a high and low of Rs 56.20 and Rs 47.60, respectively, in trade so far. Later, the share price of the company closed 14.06 per cent up at Rs 53.95.

In a BSE filing, Marksans Pharma said, “Pursuant to the UK MHRA GMP inspection of the Marksans’s Goa plant conducted from November 23, 2015 to November 25, 2015 and subsequent to the company’s response to the UK MHRA observations, the company has received communication from UK MHRA informing that they are issuing a “Restricted GMP Certificate” allowing the company to continue manufacture and marketing of critical products for the UK markets.”

The restricted GMP status would continue until MHRA’s next inspection. Next reinspection can be as early as when the Qualified Person EU (QP) certifies site to be inspection ready. Once reinspected, the same can be reinstated to GMP compliant status.

As per MHRA’s assessment, listed products manufactured by Marksans Pharma for the UK market are evaluated to be critical for public health and are allowed continuation of manufacture.

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