Shares of Alembic Pharmaceuticals today rose by over 3 per cent after the company said that the US health regulator has conducted an inspection at its Panelav facility and has not made any observations.
The stock gained 3.18 per cent to end at Rs 520 on BSE. During the day, it went up by 5 per cent to Rs 529.30.
"The United States Food and Drug Administration (USFDA) has conducted an inspection at Alembic Pharmaceuticals API Facility located at Panelav from April 16-23, 2018. This was a scheduled inspection and at the end of the inspection, there were zero 483s," the company said in a BSE filing.
An FDA Form 483 is issued to a firm's management in case investigators observe any violation of the Food Drug and Cosmetic Act and related acts.
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