Medicamen Biotech Share Price Experiences Surge After EU GMP Certification
Medicamen Biotech Shares Take Off
Medicamen biotech share price zoomed as much as 14.29% to Rs 507 on the BSE during intra-day trading on Thursday. The remarkable uptick in the stock price came after the announcement that the company's General Tablets and Liquid Orals Formulation facility in Bhiwadi received the EU GMP certification.
Regulatory Approval Catalyst
In a regulatory filing, Medicamen Biotech stated, "We wish to inform you that the company's facility received the final approval (EU GMP Certification) today, from the Inspection Department, Division of Production & Distribution Control, National Organisation for Medicines, Greece." Established in December 1993, this small-cap pharma stock emphasizes oncology therapeutics and other generics, aspiring to be a global leader in oncology generics by providing affordable medicine of highest quality.
Market Performance
- Current market cap: Rs 617.74 crore as of September 12, 2024.
- Advanced 16.15% in the last week.
- Up 20% over the past month.
- Yielded 20.02% return in past six months.
- Shares traded at Rs 485.85, a rise of 9.52% from Rs 443.60 earlier closing.
- Currently trading at a discount of 36% from its 52-week high of Rs 765 on September 28, 2023.
Medicamen Biotech continues to be a stock in focus today, with nearly 0.37 lakh equity shares valued at Rs 1.85 crore traded.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.