Alembic Pharmaceuticals gained 2.37% to Rs 763.60 after the US drug regulator classified the company's Panelav facility as Voluntary Action Indicated (VAI).
The US Food and Drug Administration (USFDA) has classified the Alembic Pharmaceuticals General Oral Solid Formulation Facility located at Panelav in Gujarat as Voluntary Action Indicated (VAI). Inspection at the said facility was conducted by USFDA from 9 March 2020 to 13 March 2020. VAI means USFDA accepted the company's response to its observations. The announcement was made during market hours today, 4 May 2020.
On a consolidated basis, the pharmaceutical company's net profit rose 88.10% to Rs 233.25 crore on a 30.19% increase in the net sales to Rs 1,206.83 crore in Q4 March 2020 over Q4 March 2019. The result was announced on 23 April 2020.
Alembic Pharmaceuticals is engaged developing formulations and active pharmaceutical ingredients (API).
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