Caplin Point Laboratories said Wednesday the company has received EU GMP approval for its small volume sterile injectable liquids facility in Chennai. The facility is capable of manufacturing liquid injectable in vials, ampoules, lyophilised vials and ophthalmic dosages.
The site was inspected by the EU authorities in March 2015 and has been certified as compliant with the guidelines stated in Art. 111 (5) of directive 2001/83/EC.
C. C. Paarthipan, chairman, Caplin Point said, ''This is our first approval and we're expecting more regulatory GMP approvals in future. The global injectable market is projected to grow to USD 70 billion by 2020 and is frequently plagued by shortages. This presents an exciting opportunity for us to carve out a niche.''
Shares of the company gained Rs 22, or 2.23%, to trade at Rs 1,007.25. The total volume of shares traded was 12,072 at the BSE (11.41 a.m., Thursday).