Granules India hits record high post USFDA inspection of Gagillapur facility
The stock rallied 12% to Rs 1,017, also its record high on the BSE.
 "Granules India hits record high post USFDA inspection of Gagillapur facility")
Shares of Granules India has rallied 12% to Rs 1,017, also its record high on the BSE, after the pharmaceutical company said that US health regulator FDA (Food and Drug Administration) has inspected its Gagillapur manufacturing facility near Hyderabad and did not find any deviation from good manufacturing norms.
“US-FDA had inspected Gagillapur facility last week and the inspection concluded with no observations,” Granules India said in a BSE filing.
The inspection was triggered by one of the applicant’s Abbreviated New Drug Application (ANDA) filing, it added.
The company manufactures pharmaceutical formulation intermediates (PFIs) and finished dosages at its Gagillapur facility.
The stock opened at Rs 950 and has seen more than two-fold jump in trading volumes. At 0953 hours, a combined 897,817 shares changed hands on the counter on NSE and BSE.
“US-FDA had inspected Gagillapur facility last week and the inspection concluded with no observations,” Granules India said in a BSE filing.
The inspection was triggered by one of the applicant’s Abbreviated New Drug Application (ANDA) filing, it added.
The company manufactures pharmaceutical formulation intermediates (PFIs) and finished dosages at its Gagillapur facility.
The stock opened at Rs 950 and has seen more than two-fold jump in trading volumes. At 0953 hours, a combined 897,817 shares changed hands on the counter on NSE and BSE.