 "SMS Pharma hits new high on USFDA nod for Andhra unit")
SMS Pharmaceuticals has rallied 12% to Rs 138, also its new high on the BSE in early morning trade, after the company announced that it has received approval from the US Food and Drug Administration (FDA) for an Andhra Pradesh-based manufacturing facility.
“The company has received approval from the US Food and Drug Administration (USFDA) for the manufacturing facility (unit-7) located at Kandivalasa village in Vizianagaram district of Andhra Pradesh against inspection conducted in the 3rd week of April 2015 by US FDA authorities,” SMS Pharma said in a press release.
At 09:50 a.m. the stock was up 8% at Rs 133 on the BSE. A combined 789,358 shares changed hands on the counter on the BSE and NSE so far.
“The company has received approval from the US Food and Drug Administration (USFDA) for the manufacturing facility (unit-7) located at Kandivalasa village in Vizianagaram district of Andhra Pradesh against inspection conducted in the 3rd week of April 2015 by US FDA authorities,” SMS Pharma said in a press release.
At 09:50 a.m. the stock was up 8% at Rs 133 on the BSE. A combined 789,358 shares changed hands on the counter on the BSE and NSE so far.
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