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Divi's Labs firms up after USFDA concludes inspection at Andhra unit

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Divi's Laboratories was up 1.44% to Rs 1548.85 at 14:10 IST on the BSE after the company said that the US drug regulator concluded inspection at Andhra Pradesh unit with zero 483 observations.

The announcement was made on Saturday, 15 June 2019.

Meanwhile, the S&P BSE Sensex was down 362 points, or 0.92% at 39,090.07.

On the BSE, 45,000 shares were traded in the counter so far compared with average daily volumes of 26,000 shares in the past two weeks. The stock had hit a high of Rs 1582.60 and a low of Rs 1535.05 so far during the day. It hit a 52-week high of Rs 1769 on 2 May 2019 and a 52-week low of Rs 994.95 on 28 June 2018.

Divi's Laboratories announced that its unit-II at village Chippada, Bheemunipatnam District, Andhra Pradesh had an inspection by the US Food and Drug Administration (USFDA) from 10 June to 15 June 2019. This was a general Current Good Manufacturing Practices (cGMP) inspection by the USFDA. The inspection has been concluded with no 483 observations.

Divi's Laboratories reported 10.6% rise in the net profit to Rs 289.35 on a 15.5% rise in the net sales to Rs 1256.43 crore in Q4 March 2019 over Q4 March 2018.

Divis Laboratories is engaged in the manufacture of active pharmaceutical ingredients (API's), intermediates and nutraceutical ingredients with predominance in exports.

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

First Published: Mon, June 17 2019. 14:10 IST