EU GMP Certification sends this small-cap pharma stock flying over 14%: Medicamen Biotech share price
Source: Business Standard
Medicamen Biotech shares zoom: Shares of pharmaceutical company, Medicamen Biotech, climbed as much as 14.29 per cent to Rs 507 on the BSE during intra-day deals on Thursday. The uptick in the stock price followed the news that the company’s General Tablets and Liquid Orals Formulation facility, located in Bhiwadi, received the EU GMP certification from the Inspection Department, Division of Production & Distribution Control, National Organisation for Medicines, Greece.
“We wish to inform you that the company’s General Tablets and Liquid Orals Formulation facility located at SP 1192 A & B, Phase IV, Industrial Area, Bhiwadi – 301019, received the final approval (EU GMP Certification) today, from the Inspection Department, Division of Production & Distribution Control, National Organisation for Medicines, Greece,” said Medicamen Biotech in a regulatory filing on the BSE.
Medicamen Group, established in December 1993, has vertically integrated facilities for R&D, APIs, and Formulations. As per the information available on their website, the pharmaceutical company is now focusing on oncology therapeutics and other generics with a vision to be a global leader in oncology generics by offering affordable medicine with best-in-class quality. Apart from the above, a set of 10 non-oncology formulations is also being developed in R&D for EU market filings.
Medicamen Biotech has a market capitalisation of Rs 617.74 crore on the BSE, as of September 12, 2024. The pharmaceutical company is a constituent of the BSE smallcap index.
The small-cap pharma stock has advanced 16.15 per cent in the last one week, and 20 per cent in the last one month. Shares have yielded a return of 20.02 per cent in the last six months, while they dropped 28.39 per cent in the last one year, as per the data available on the BSE.
The pharmaceutical company’s shares continue to trade northward on the bourses today. At around 01:33 PM, shares of Medicamen Biotech were quoted trading at Rs 485.85, up 9.52 per cent from their previous close of Rs 443.60 on the BSE. Nearly 0.37 lakh equity shares of the smallcap pharma company worth nearly Rs 1.85 crore have exchanged hands on the BSE.
Medicamen Biotech shares are currently trading at a discount of 36 per cent from their 52-week high of Rs 765, which they touched on September 28, 2023, on the BSE.
First Published: Sep 12 2024 | 1:53 PM IST
