Gennex Laboratories gains on receiving GMP certificate from Telangana government

Gennex Laboratories is currently trading at Rs. 5.44, up by 0.13 points or 2.45% from its previous closing of Rs. 5.31 on the BSE.

The scrip opened at Rs. 5.41 and has touched a high and low of Rs. 5.54 and Rs. 5.20 respectively. So far 196578 shares were traded on the counter.

The BSE group 'XD' stock of face value Rs. 1 has touched a 52 week high of Rs. 8.89 on 02-Jun-2016 and a 52 week low of Rs. 4.11 on 24-Mar-2017.

Last one week high and low of the scrip stood at Rs. 6.00 and Rs. 5.25 respectively. The current market cap of the company is Rs. 68.82 crore.

The promoters holding in the company stood at 22.08 %, while Non-Institutions held 77.92 % stake.

Gennex Laboratories has been awarded by the Drugs Control Administration, Government of Telangana, certificate for Good Manufacturing Practices (GMP) in the manufacturing and quality control operations as recommended by the World Health Organization, for a period of 2 years. This certificate has been awarded after inspection of its manufacturing facility by the Joint Inspection Team of officers from Central Drugs Standard Control Organization and Drugs Control Administration, Telangana with regard to the company’s adherence to manufacturing and quality control norms of World Health Organization. This award will provide a cutting-edge to penetrate European market in future.

Secondly, the company has also received Consent for Operations (CFO) from the Telangana State Pollution Control Board (TSPCB) for a further period of 5 years after a team of officers who inspected the company’s manufacturing and effluent treatment facilities recorded its satisfaction. The company, however, continues to make efforts to ensure that the Pollution Control norms are strictly adhered to and necessary measures taken from time to time.

Further, the Drugs Control Administration, Telangana had on May 06, 2017, approved new product namely Flupentixol Hydrochloride and issued the Drug Licence for the same. The new product is an anti-depressant drug that goes in combination with Melitracin hydrochloride and is widely in demand notably in countries like Bangladesh.

Gennex Laboratories is an integrated pharmaceutical company and has a product portfolio spread over various product segments encompassing expectorants, muscle relaxants, analgesic and anti-fungal. The company is engaged in manufacturing of bulk drugs, intermediates and biotech products.