Alkem Laboratories gains after USFDA inspection

Alkem Laboratories rose 1.23% to Rs 1,952 at 10:20 IST on BSE after the company said that USFDA has concluded inspection at its Taloja facility.

The announcement was made after market hours yesterday, 14 November 2018.

Meanwhile, the S&P BSE Sensex was up 30.77 points or 0.09% at 35,172.76

On the BSE, 345 shares were traded on the counter so far as against the average daily volumes of 1,005 shares in the past two weeks. The stock had hit a high of Rs 1,975.60 and a low of Rs 1,943.40 so far during the day. The stock had hit a record high of Rs 2,468 on 10 January 2018 and a 52-week low of Rs 1,742 on 17 April 2018.

 

Alkem Laboratories said that USFDA had conducted an inspection at the company's Bioequivalence facility located at Taloja, Maharashtra from 8 November 2018 to 14 November 2018. At the end of the inspection, no Form 483 was issued.

Alkem Laboratories' consolidated net profit fell 20.47% to Rs 260.42 crore on 3.22% rise in net sales to Rs 1918.92 crore in Q2 September 2018 over Q2 September 2017.

Alkem Laboratories is a pharmaceutical company with global operations, engaged in the development, manufacture and sale of pharmaceutical and nutraceutical products.

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