(BSE)
The company's Gujarat facility received a good manufacturing practice certificate from the German authority.
The shares of RPG Lifesciences jumped nearly 17% intraday after the company announced that it has received good manufacturing practice (GMP) certificate from German authority for its formulation facility in Gujarat.
Shares of the company surged 16.95% to trade at Rs 273.10 on BSE.
On NSE, the shares were trading at Rs 273.05, a rise of 16.93% over the previous close.
However, at 1216 hours, the company's share price was down from the day's high but still trading at nearly 15% above the previous day's close.
In a regulatory filing, the company said the GMP certificate has been received from the Bavarian Authority as per EUGMP standards for its formulation manufacturing facility
at Ankleshwar.
It added the Bavarian Authority conducted an audit of the facility in early March.
"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," RPG Lifesciences MD CT Renganathan said.
Part of the RPG Enterprises, the company is an integrated pharmaceutical firm operating in the domestic and international markets in the branded formulation, global
generics, synthetic and fermentation APIs space.