Unichem Lab sizzles as USFDA concludes inspection

Unichem Laboratories gained 6.68% to Rs 277.80 at 15:14 IST on BSE after the USFDA concluded the inspection of its Ghaziabad facility with no observations.

The announcement was made after market hours on Friday, 20 April 2018.

Meanwhile, the S&P BSE Sensex was up 33.73 points, or 0.1% to 34,449.31.

On the BSE, 70,000 shares were traded in the counter so far, compared with average daily volumes of 11,000 shares in the past one quarter. The stock had hit a high of Rs 282.95 and hit a low of Rs 271.90 so far during the day. The stock had hit a record high of Rs 382 on 8 January 2018. The stock had hit a 52-week low of Rs 234.10 on 11 August 2017.

The small-cap company has equity capital of Rs 14.07 crore. Face value per share is Rs 2.

Unichem Laboratories said that the company's formulation manufacturing facility at Ghaziabad was inspected by the USFDA from 16 April 2018 to 20 April 2018. The inspection concluded with zero observations. This inspection also covered one of the first to file molecules.

Unichem Laboratories' net profit jumped 9501.80% to Rs 2507.03 crore on 1256.93% rise in total income to Rs 2730.82 crore in Q3 December 2017 over Q3 December 2016.

Unichem Laboratories is an international, integrated, specialty pharmaceutical company. It manufactures and markets a large basket of pharmaceutical formulations as branded generics as well as generics in India and several other markets across the world. In India, the company is a leader in niche therapy areas of cardiology, neurology, orthopedics and anti-infectives. The company has strong skills in product development, process chemistry and manufacturing of complex API as well as dosage forms.

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