Aurobindo Pharma has rallied 7% to Rs 118 on reports that the US drug regulator is expected to inspect company’s two manufacturing facilities in Andhra Pradesh during September-December.
The management expects the US Food and Drugs Administration (USFDA) inspection of unit-6, which is facing an import ban, to take place in September’2012.
According to media reports, the USFDA might lift the import ban on the unit-6 facility by September-end, a move that could help Aurobindo launch a string of its products in the world’s largest drug market and boost revenues. The said plant is under import alert of the USFDA since February 2011.
The stock opened at Rs 112 and hit a high of Rs 120 on the BSE. The counter have seen three-fold surge in trading volumes with a combined 3.78 million shares have changing hands so far on both the exchanges.
