Jubilant Pharmova gains as Washington unit gets VAI classification from USFDA

Jubilant Pharmova advanced 1.60% to Rs 1,033.55 after its subsidiary, Jubilant HollisterStier LLC's (JHS) manufacturing facility located at Spokane, Washington (USA) received classification of "Voluntary Action Indicated" from USFDA.

The United States Food & Drug Administration (USFDA) conducted an audit of the facility from 28 May to 6 June 2024. The US drug regulatorhas now determined the inspection classification of the facility as Voluntary Action Indicated.

Jubilant HollisterStier LLC is a subsidiary of Jubilant Pharma Holding Inc., which is a subsidiary of Jubilant Pharma, Singapore, a wholly owned subsidiary of the company.

Jubilant Pharmova is engaged in radiopharma, allergy immunotherapy, CDMO of sterile injectable, generics, contract research development and manufacturing (CRDMO) and proprietary novel drugs businesses.

The company's consolidated net profit stood at Rs 482.10 crore in Q1 FY25, steeply higher than Rs 6.40 crore in Q1 FY24. Total income increased by 9.41% YoY to Rs 1,745.7 crore in Q1 FY25.

The counter hit an all time high of 1,060.15 in todays intraday session.

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