Shares of Unichem Laboratories jumped as much as 9.6 per cent to Rs 139.70 apiece on the BSE on Friday after the company informed that it has received the Establishment Inspection Report (EIR) from United States Food and Drug Administration (USFDA) for its Active Pharmaceutical Ingredients (APIs) facility at Roha.
The company received EIR on May 13 and the USFDA had conducted the inspection of its Roha facility from February 17 to 21, 2020. CLICK TO READ THE PRESS RELEASE
At 09:37 am, shares of the company were trading around 7 per cent higher at Rs 136 on the BSE. In comparison, the S&P BSE Sensex was trading flat at 31,043.55, down 79 points or 0.25 per cent.
Unichem Lab stock had hit a 52-week high of Rs 200.60 on the BSE on May 24, 2019, while its 52-week low was Rs 75.10, hit on March 23 this year.
Headquartered in Mumbai, Unichem Lab has six drug manufacturing locations across the country. It is one of the leading pharmaceutical companies. It functions in therapeutic areas like gastroenterology, cardiology, diabetology, psychiatry, neurology, anti-bacterials, anti-infectives, and pain management.
Other pharma stocks, too, were trading in the green on Friday. While Jubilant Life Sciences was locked in 5 per cent upper circuit, Hikal also jumped 5 per cent to Rs 114.95 per cent. The S&P BSE Healthcare index, on the other hand, was trading flat at 15,106.18, up just 3 points or 0.02 per cent.