Shares of SMS Pharmaceuticals surged over 7 per cent today as it received approval from US health regulator for its Andhra Pradesh-based manufacturing facility.
The stock gained 7.32 per cent to settle at Rs 132 on BSE. During the day, it soared 11.78 per cent to Rs 137.50 -- its 52-week high.
At NSE, shares of the company jumped 5.82 per cent to end at Rs 131.80.
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The company has received approval from the US Food and Drug Administration (USFDA) for its manufacturing facility located at Kandivalasa village in Vizianagaram district of Andhra Pradesh, SMS had said in a regulatory filing on Thursday. The market was closed on Friday for Christmas.
The USFDA had conducted inspection of the plant in the third week of April 2015, it added.
SMS Pharmaceuticals is engaged in manufacturing of active pharmaceutical ingredients (API) and currently has four production facilities and two research centers in operation.
