USFDA issues Establishment Inspection Report to Gland Pharma; stock up 3%

Shares of pharmaceutical company Gland Pharma advanced 2.76 per cent to today's high of Rs 1719 on the BSE during intra-day deals on Thursday, January 16, 2025. The company's share price advanced on the news that it has received an Establishment Inspection Report (EIR) from the USFDA (United States Food and Drug Administration) indicating the closure of the inspection.

 

"Following the inspection for Good Manufacturing Practices (GMP) by the USFDA at the company's Dundigal Facility in Hyderabad between July 22, 2024, and July 25, 2024, the company has received an Establishment Inspection Report (EIR) from the US FDA indicating the closure of the inspection," Gland Pharma said in a regulatory filing on the BSE.

 

Incorporated in 1978, Gland Pharma primarily manufactures injectable formulations. Gland Pharma has eight manufacturing facilities in India and sells its products in over 60 countries. The company sells products primarily under a business-to-business (B2B) model in over 60 countries as of March 31, 2022, including the United States, Europe, Canada, Australia, India, and the rest of the world.

 

As of January 16, 2025, Gland Pharma enjoys a market capitalisation of Rs 27,777.14 crore on the BSE. The pharmaceutical company is a constituent of the BSE 500 index. Historically, Gland Pharma shares have shown negative performance with a fall of around 17 per cent in the last six months and 13 per cent in the last one year.

 

Gland Pharma shares have a 52-week range of Rs 2,220.95 - Rs 1,590 on the BSE. 

 

The pharmaceutical company's shares were quoted at an all-time high of Rs 4,350 on August 21, 2021, while they touched their all-time low of Rs 861.50 on May 22, 2023.

 

Around 2:14 PM, Gland Pharma share price was up 0.78 per cent at Rs 1685.80 per share on the BSE. In comparison, the BSE Sensex was up 0.46 per cent at 77,080.45. A combined total of nearly 0.20 million equity shares of Gland Pharma, estimated to be worth around Rs 36 crore, exchanged hands on the NSE, and BSE so far on Thursday.