Cipla spurts after USFDA classifies Goa unit as VAI

Cipla surged 8.33% to Rs 1,535.50 after the drug maker the US drug regulator classified the manufacturing facility in Goa as voluntary action indicated (VAI).

The United States Food and Drug Administration (USFDA) conducted routine current Good Manufacturing Practices (cGMP) inspection at Goa manufacturing facility from 10 to 21 June 2024. On conclusion, the company received 6 inspectional observations in Form 483.

The pharma company has now received communication from the USFDA stating the unit as VAI.

According to media reports, This VAI is important milestone as it has opened the doors for the company to go ahead and launch Abraxane, a paclitaxel-based chemotherapy drug used to treat cancer with a market size of over $700 million. Currently, only Sandoz has received approval for the same in October 2024.

Cipla is a global pharmaceutical company focused on agile and sustainable growth, complex generics, and deepening portfolio in our home markets of India, South Africa, North America, and key regulated and emerging markets.

The pharma majors consolidated net profit jumped 15.18% to Rs 1,302.53 crore on 5.58% rise in total revenue from operations to Rs 7,051.02 crore in Q2 FY25 over Q2 FY24.

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