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Concord Biotech gains after receiving GMP certificate with zero observations

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Concord Biotech jumped 2.97% to Rs 1,483 after the company received good manufacturing practices (GMP) certificate from Ministry of Health Pharmacy and Poisons Board (PPB), Republic of Kenya for its formulation facility located in Gujarat.
The Ministry of Health Pharmacy and Poisons Board, Republic of Kenya had conducted inspection of Unit II formulation facility located at Valthera-Dholka in Ahmedabad, Gujarat. The said inspection has been completed successfully, without any adverse remarks.
Concord is an India-based R&D-driven biopharma company. The company is ranked among the leading global developers and manufacturers of select fermentation-based active pharmaceutical ingredients (API) across immunosuppressants and oncology in terms of market share, based on volume in 2022.
The companys consolidated net profit rose marginally to Rs 77.57 crore in Q3 FY24 as compared with Rs 77.37 crore in Q3 FY23. Net sales stood at Rs 240.80 crore in Q3 FY24
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First Published: Feb 23 2024 | 11:45 AM IST

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