Jubilant Life extends gain as Canada facility gets US FDA clean chit

Jubilant Life Sciences is up nearly 6% at Rs 131, extending its Friday’s 8% rally on the NSE after the company said its manufacturing facility at Montreal, Canada, has got a clean chit from the US Food and Drug Administration (US FDA).

In a letter to the NSE, the company said "it has received communication from the US FDA classifying its pharmaceutical manufacturing facility at Montreal as ‘Acceptable’. This resolves all issues raised by the FDA on the facility in February 2013 and subsequent communications."
 

According to the statement, US FDA re-inspected Jubilant's Montreal facility in September 2013 and reviewed its responses before giving it a clean chit.

The stock opened at Rs 125 and touched a high of Rs 132 so far. A combined around 296,000 shares have changed hands till 1020 hours on the NSE and BSE.