SMS Pharma's Hyderabad facility clears USFDA inspection

SMS Pharmaceuticals on Saturday, 7 March 2020, said its exclusive testing facility in Hyderabad successfully completed regulatory inspection by the US drug regulator.

The United States Food and Drug Administration (USFDA) inspected SMS Pharmaceuticals (Central Laboratory Analytical Services) between 2nd to 6th March 2020. The regulatory audit resulted in zero observation. The Central Laboratory Analytical Services is an independent testing laboratory. This was the first USFDA inspection concluded with zero observations, the company said in a statement.

The company added that it is committed to meeting the highest quality standards and is further committed to full compliance with Current Good Manufacturing Practice (cGMP) & Good Laboratory Practice (GLP) regulations at all its manufacturing and analytical facilities.

SMS Pharmaceuticals' consolidated net profit fell 19.1% to Rs 7.62 crore on a 20.5% decline in net sales to Rs 80.45 crore in Q3 December 2019 over Q3 December 2018.

SMS Pharmaceuticals is engaged in the manufacturing and sale of active pharmaceutical ingredients (APIs) and their intermediates. The firm's principal products/services include pharmaceuticals. The company's product range includes API and intermediates.

SMS Pharmaceuticals dropped 1.89% to Rs 36.25. The stock hit a 52-week low at Rs 34.50 and an intraday high of Rs 41.75.

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