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Drug manufacturer Indoco Remedies informed after market close on Friday that the company's Goa unit has been issued an OIA (Official Action Indicated) from the US FDA. The status of OAI is given after an inspection conducted by the US FDA in July 2024 and indicates that regulatory or enforcement action may be recommended due to compliance issues.
The facility was inspected by the USFDA in February 2023 and received OAI status in May 2023. Indoco is working extensively on the remedial action plan at the facility, which will be completed by the third quarter of 2024. Indoco plans to inform the US FDA about the readiness of the inspection after the completion of the remedial action. Stock performance On Friday, the company's stock closed down 0.56 per cent at Rs 338.50. The 52-week high of the stock is Rs 415.
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