Dishman Carbogen shares rise by 9 pc after I-T department conducts search at offices

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The share price of Dishman Carbogen Amcis rose by over 9 per cent on Thursday after officials of the Income Tax Department conducted search at the company’s offices and manufacturing sites here.

The Swiss company provides drug development and commercialisation services to the pharmaceutical and biopharmaceutical industries.In a communication to stock exchanges, Dishman Carbogen said officials of the Income Tax Department conducted search at the company’s offices and manufacturing sites from December 19 to 25.

“The company extended full cooperation to officials during the search and provided all the information sought. We at Dishman Carbogen Amcis Ltd follow the highest standards of corporate governance and financial discipline,” it said.”Our systems and processes are benchmarked by competent auditing and accounting standards, our dealings with our partners, investors, financial institutions and our clients are transparent and of the highest industry standards,” it added.

On the BSE Ltd at 11:45 am, the company’s stock was trading 9.43 per cent higher at Rs 78.90 apiece.

Dishman Carbogen’s capabilities span from contract chemical process research and development to the supply of active pharmaceutical ingredients as well as drug products for pre-clinical studies, clinical trials and commercial use.

 

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TheDispatch Staff