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“Further to our letter dated 2nd November, 2017, Divi's Laboratories has been informed by the U.S. Food and Drug Administration (US-FDA) that the Agency has completed evaluation of the Company's corrective actions in response to FDA's Warning Letter: 320-17-34 dated April 13, 2017,” the company said in a regulatory filing.
We also note from the update on FDA's website that they have closed-out the warning letter, it added.
Thus far in the month of November, Divi’s Labs has outperformed the market by gaining 23% after the company on November 2, announced that the USFDA will lift import alert for its Visakhapatnam unit. On comparison, the S&P BSE Sensex was down 0.09% during the period.
At 09:52 AM; the stock was trading 3% higher at Rs 1,038 against 0.20% decline in the benchmark index. A combined 1.4 million shares changed hands on the counter on the NSE and BSE so far.