Unichem Labs gains after getting EIR from USFDA for Pithampur, Roha facilities

Unichem Laboratories rose 2.68% to Rs 212.65 at 14:18 IST on BSE after the company said its manufacturing facilities at Pithampur and Roha received establishment inspection reports from the US drug regulator.

The announcement was made during trading hours today, 22 October 2018.

Meanwhile, the S&P BSE Sensex was up 35.97 points, or 0.10% to 34,351.60.

On the BSE, 14,000 shares were traded in the counter so far compared with average daily volumes of 8,258 shares in the past two weeks. The stock had hit a high of Rs 219.45 and a low of Rs 206.40 so far during the day. The stock hit a record high of Rs 382 on 8 January 2018. The stock hit a 52-week low of Rs 182 on 11 October 2018.

Unichem Laboratories said its Active Pharmaceutical Ingredient (API) manufacturing facilities at Pithampur (Madhya Pradesh) and Roha (Maharashtra) have received Establishment Inspection Reports (EIR) from the US Food and Drug Administration (USFDA) indicating closure of inspections at both facilities.

The inspection at Pithampur was conducted by the FDA from 23 July 2018 to 27 July 2018. The inspection at Roha was conducted by the FDA from 30 July 2018 to 3 August 2018.

Unichem Laboratories reported net loss of Rs 20.65 crore in Q1 June 2018 compared with net profit of Rs 1.50 crore in Q1 June 2017. Net sales rose 42.5% to Rs 201.43 crore in Q1 June 2018 over Q1 June 2017.

Unichem Laboratories is a pharmaceutical company.

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