Orchid Pharma jumps 11% on receiving EIR report from USFDA

Orchid Pharma shares ended with over 11 per cent gains after it received an Establishment Inspection Report on successful inspection closure for the API manufacturing facility in Tamil Nadu from the US health regulator.
The stock zoomed 11.10 per cent to settle at Rs 43.05 on BSE. Intra-day, it jumped 13.29 per cent to Rs 43.90.
On NSE, shares of the company rallied 11 per cent to close at Rs 43.10.
Volume-wise, 12.40 lakh shares of the company changed hands at BSE and over 52 lakh shares were traded at NSE during the day.
"Orchid received the Establishment inspection report from USFDA based on the successful inspection closure for the API manufacturing facility located at Alathur, Kancheepuram district. The facility was inspected by the USFDA in the month of August 2015," the company said in a BSE filing today.

The USFDA releases a copy of the EIR to the establishment that was the subject of an FDA or FDA-contracted inspection when the agency determines the inspection to be closed.