Aurobindo Pharma has rallied 7% to Rs 118 on reports that the US drug regulator is expected to inspect company’s two manufacturing facilities in Andhra Pradesh during September-December.
The management expects the US Food and Drugs Administration (USFDA) inspection of unit-6, which is facing an import ban, to take place in September’2012.
According to media reports, the USFDA might lift the import ban on the unit-6 facility by September-end, a move that could help Aurobindo launch a string of its products in the world’s largest drug market and boost revenues. The said plant is under import alert of the USFDA since February 2011.
The stock opened at Rs 112 and hit a high of Rs 120 on the BSE. The counter have seen three-fold surge in trading volumes with a combined 3.78 million shares have changing hands so far on both the exchanges.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app