 "Cipla gains as Indore plant gets US FDA clearance")
Cipla was trading higher by 3% to Rs 596 on the BSE in early morning trade after the drug maker on Wednesday said that it has received Establishment Inspection Report (EIR) from the US Food and Drug Administration (USFDA) for its Indore facility indicating formal closure of the US FDA inspection conducted in July/August, 2015.
Since September 30, the stock had underperformed the market by falling 3.5% after Cipla said that USFDA recently concluded audit of 3 manufacturing facilities at Goa and has issued 4 observations across these 3 facilities. The S&P BSE Sensex was up 1% during the same period.
“These observations were primarily procedural in nature and the company has already responded to these observations. The company continues to operate facilities with a high level of compliance & control”, it added.
Till 9:23 am, a combined 411,396 shares changed hands on the counter on the BSE and NSE.
Since September 30, the stock had underperformed the market by falling 3.5% after Cipla said that USFDA recently concluded audit of 3 manufacturing facilities at Goa and has issued 4 observations across these 3 facilities. The S&P BSE Sensex was up 1% during the same period.
“These observations were primarily procedural in nature and the company has already responded to these observations. The company continues to operate facilities with a high level of compliance & control”, it added.
Till 9:23 am, a combined 411,396 shares changed hands on the counter on the BSE and NSE.
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