Unichem Labs jumps after closure of inspection

Unichem Laboratories surged 8.17% to Rs 219.15 at 09:21 IST on BSE after the company said it has received establishment inspection report for post marketing adverse drug experience inspection from the US drug regulator.

The announcement was made after market hours yesterday, 26 November 2018.

Meanwhile, the S&P BSE Sensex was down 32.55 points, or 0.09% to 35,321.53

On the BSE, 33,000 shares were traded in the counter so far compared with average daily volumes of 3,575 shares in the past two weeks. The stock had hit a high of Rs 224.55 and a low of Rs 215.70 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 that the company has received establishment inspection report (EIR) for post marketing adverse drug experience inspection conducted by the USFDA from 25-29 June 2018, indicating closure of inspection.

Unichem Laboratories' net profit dropped 66.8% to Rs 15.21 crore on 12.74% rise in total income to Rs 278.50 crore in Q2 September 2018 over Q2 September 2017.

Unichem Laboratories is a pharmaceutical company.

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