Alkem Laboratories rose 1.17% to Rs 2,409.90 after the US drug regulator concluded inspection at the company's Baddi unit in Himachal Pradesh.
The US Food and Drug Administration (USFDA) has issued an establishment inspection report (EIR) to the company's manufacturing facility located at Baddi, which was inspected from 17th to 21st February 2020. The inspection has now been closed by the USFDA. The announcement was made during trading hours today, 13 March 2020.
Last month, the company said its Baddi unit received a Form 483 with two observations following an inspection from 17th to 21st February 2020.
Alkem Laboratories' consolidated net profit surged 88.6% to Rs 381.98 crore on a 13.3% jump in net sales to Rs 2,181.84 crore in Q3 December 2019 over Q3 December 2018.
Alkem Laboratories is engaged in the development, manufacture and sale of pharmaceutical and neutraceutical products. The company operates through two segments: pharmaceutical and investing.
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