Divi's Lab hits new high as Chippada unit gets zero USFDA observations

In the past month, Divi's Lab has outperformed the market by surging 10 per cent, as compared to 1.4 per cent decline in the S&P BSE Sensex

Shares of Divi's Laboratories hit a new high of Rs 2,014, up 3 per cent on the BSE on Saturday, after the company's unit in Andhra Pradesh received zero ‘483’ observations from the USA’s health regulator. The drug firm's stock surpassed its previous high of Rs 1,994, touched on January 29, 2020.

“The company's Unit-II at village Chippada, Bheemunipatnam district, Andhra Pradesh has had an inspection by the US Food and Drug Administration (US-FDA) from 27 January, 2020 to 31 January, 2020,” Divis Lab said in a BSE filing.

The inspection has been concluded with no '483' observations,