Bajaj Healthcare gains on clearing US FDA inspection with no observations

Bajaj Healthcare jumped 3.81% to Rs 408.35 after the pharma company announced successfully competition of first ever pre-approval inspection by US Food and Drug Administration (USFDA) of its Vadodara API facility.

The US drug regulator conducted it's pre-approval inspection of the API facility located at Vadodara, Gujarat from 14 November 2022 to 17 November 2022.

The pre-approval inspection of United State Food and Drug Administration (USFDA) has been completed successfully with zero 483 observation of the manufacturing facilities of Bajaj Healthcare, stated the company.

Anil Jain, joint managing director of Bajaj Healthcare said, I am happy to announce that we successfully completed first ever pre approval USFDA inspection with zero 483 observation at our API manufacturing facilities located at Vadodara, Gujarat. We are committed to strict adherence to all applicable guidelines and regulations and maintaining the highest quality standards in delivering quality services and timely delivery to our clients.

Bajaj Healthcare a leading manufacturer of APIs, intermediates and formulations. It has a strong presence globally in countries like Europe, USA, Australia, Africa, Middle East and South America.

The company reported 5.2% decline in net profit to Rs 16.36 crore despite of 33.1% rise in net sales to Rs 200.89 crore in Q2 FY23 over Q2 FY22.

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