Cadila Healthcare informed that its formulations manufacturing facility located at Baddi in Himachal Pradesh has received an Establishment Inspection Report (EIR) from the US drug regulator.
Shares of the pharma company rose 2.74% to Rs 256.80. It traded in the range of Rs 249.75 and Rs 261.55 so far during the day.
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The US Food and Drug Administration (FDA) had conducted an inspection at the facility from 15th to 19th July 2019. The EIR report stated that the classification of the facility is 'no action indicated (NAI)'. The announcement was made during market hours today, 31 October 2019.
The drug maker will declare Q2 earnings on 13 November 2019. Its consolidated net profit fell 34.1% to Rs 303.60 crore on a 23% surge in net sales to Rs 3,406.20 crore in Q1 June 2019 compared with Q1 June 2018.
Cadila Healthcare makes a wide range of healthcare products. As a global healthcare provider, the company has a significant presence nationally and globally.
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