Alembic Pharma gains on successful USFDA inspection at Baroda facility

The stock moved higher by 7% to Rs 645 on BSE in intra-day trade.

Alembic Pharmaceuticals moved higher by 7% to Rs 645 on BSE in intra-day trade after the successful US drug regulator inspection at the company’s Bioequivalence facility at Baroda in Gujarat. The company said no observations were found after the inspections were carried out by United States Food & Drug Administration (USFDA).

“The USFDA inspected its Bioequivalence facility Baroda (Gujarat, India) from March 6 to March 10, 2017. At the end of the inspection, there were no 483s issued by the USFDA,” Alembic Pharma said in a press release.

A Form 483 has been issued to a company’s management upon conclusion of an inspection if investigators observe any conditions that in their judgement constitute violations of the Food, Drug and Cosmetic (FD&C) Act and related legislation.

At 02:37 pm; the stock was up 5% at Rs 633 on BSE as compared to 0.07% decline in the S&P BSE Sensex. The trading volumes on the counter jumped more than four-fold with a combined 495,547 shares changed hands on BSE and NSE so far.