Laurus Labs in pink of health on completion of USFDA inspection

Laurus Labs advanced 2.12% to Rs 547.75 at 09:29 IST on BSE after the company announced that it has completed the US Food and Drug Administration inspection of its API facilities in Visakhapatnam, Andhra Pradesh.

The announcement was made after market hours on Friday, 18 August 2017.

Meanwhile, the S&P BSE Sensex was up 97.37 points or 0.31% at 31,622.05. The S&P BSE Mid-Cap index was up 72.72 points or 0.48% at 15,281.18.

On the BSE, 2,578 shares were traded on the counter so far as against the average daily volumes of 22,110 shares in the past one quarter. The stock had hit a high of Rs 555 and low of Rs 546.80 so far during the day. The stock hit a record high of Rs 634 on 12 June 2017. The stock had hit a record low of Rs 453 on 26 December 2016.

The mid-cap company has equity capital of Rs 105.76 crore. Face value per share is Rs 10.

Laurus Labs announced that it has completed the US Food and Drug Administration (USFDA) inspection of its API facilities in units 1 and 3 at Parawada, Visakhapatnam, Andhra Pradesh with two observations which are only procedural in nature on Friday, 18 August 2017. It is a regular surveillance audit by USFDA and no data issues were observed in the inspection, Laurus Labs said.

Laurus Labs is a leading research and development (R&D) driven pharmaceutical company, with a leadership position in generic active pharmaceutical ingredients (APIs) for select, high-growth therapeutic areas of antiretrovirals (ARVs) and Hepatitis C. The company also manufactures APIs in oncology and other therapeutic areas. The company operates in four business lines: generics-APIs, generics-FDFs, synthesis and ingredients.

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