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Alkem Labs gains after closure of USFDA inspection at St. Louis facility

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rose 1.04% to Rs 1920 at 14:41 IST on BSE after closure of US drug regulator's inspection at the company's at in USA.

The announcement was made during trading hours today, 4 December 2018.

Meanwhile, the was down 131.03 points, or 0.36% to 36,109.97.

On the BSE, 7,607 shares were traded in the counter so far compared with average daily volumes of 1.92 lakh shares in the past two weeks. The stock had hit a high of Rs 1,950 and a low of Rs 1,899 so far during the day.

The stock hit a 52-week high of Rs 2,468 on 10 January 2018. The stock hit a 52-week low of Rs 1,742 on 17 April 2018.

The (USFDA) issued an establishment inspection report (EIR) to the company's located at St. Louis, USA which was inspected from 12 March 2018 to 16 March 2018.

In response to the Form 483 issued by the USFDA containing one observation, the company had submitted a detailed corrective and preventive action (CAPA) plan to the regulator within the stipulated timelines. The inspection has now been closed by the USFDA.

On a consolidated basis, net profit of declined 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.

is a leading Indian company with global operations, engaged in the development, manufacture and sale of and nutraceutical products.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, December 04 2018. 14:45 IST
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