Torrent Pharmaceuticals added 1.15% to Rs 3,482.95 after the United States Food and Drug Administration (USFDA) issued establishment inspection report (EIR) with voluntary action indicated (VAI) classification to the Gujarat manufacturing facility.
Earlier on 12 June 2024, the pharmaceutical company informed that the US FDA had conducted a pre-approval inspection and a GMP inspection at the companys manufacturing facility situated in Indrad, Gujarat from 3 June 2024 to 12 June 2024. At the end of the inspection, the firm was issued a Form 483 with five observations.
The US drug regulator has now successfully closed the inspection by issuing EIR with VAI classification.
Torrent Pharmaceuticals is the flagship company of the Torrent Group. It is ranked 6th in the Indian Pharmaceuticals Market and is amongst the top five in the therapeutics segments of cardiovascular (CV), gastro intestinal (GI), central nervous system (CNS), vitamins minerals nutritional (VMN) and cosmo-dermatology.
The companys consolidated net profit increased 20.9% to Rs 457 crore in Q1 FY25 as compared with Rs 378 crore recorded in Q1 FY24. Revenue from operations rose 10.34% year on year (YoY) to Rs 2,859 crore in the quarter ended 30 June 2024.
The counter hit an all-time high of Rs 3,480 in todays intraday session.
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