Solara Active Pharma jumps after USFDA inspection

Solara Active Pharma Science rose 8.19% to Rs 296 at 11.52 IST on BSE after the company said its research centre at Chennai received zero observations on Form 483 from US drug regulator.

The announcement was made after market hours on Friday, 14 December 2018.

Meanwhile, the S&P BSE Sensex was up 258.49 points, or 0.72% to 36,221.42.

On the BSE, 97,000 shares were traded in the counter so far compared with average daily volumes of 2,638 shares in the past two weeks. The stock had hit a high of Rs 300.95 and a low of Rs 279.95 so far during the day. The stock hit a 52-week high of Rs 403.85 on 29 August 2018. The stock hit a 52-week low of Rs 133.50 on 13 July 2018.

Solara Active Pharma Science (Solara), a leading active pharmaceutical ingredient provider, announced the successful completion of US Food and Drug Administration (USFDA) inspection at Solara Research Centre (SRC), Chennai with zero 483s inspectional observations.

On a consolidated basis, Solara Active Pharma Science reported net profit of Rs 8.55 crore on net sales of Rs 342.33 crore in Q2 September 2018.

Solara Active Pharma Sciences, headquartered in Bengaluru, India offers a basket of diversified, high-value commercial active pharmaceutical ingredient (APIs) and contract manufacturing services in over 75 countries. It has a manufacturing base comprising five API facilities in India with approvals including the USFDA, EU GMP, KFDA and PMDA in Japan.

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