Orchid Pharma rises on EIR report from USFDA for Alathur facility

The company said it has received EIR from USFDA for its Alathur facility

Shares of Orchid Pharma were up over 7% at Rs 41.55 on the Bombay Stock Exchange after the company said it has received the inspection report from the US Food and Drug Administration for its Alathur facility.

The company in a release said that it has received Establishment Inspection Report (EIR) from the USFDA based on the successful inspection closure for the API manufacturing facility located at Alathur, Kancheepuram District, India.

The facility was inspected by USFDA in the month of August 2015, the release added.

The stock opened at Rs 39.45 and touched a high of Rs 43.90. At 12:45pm, over 3.75 million shares were traded on both the stock exchanges.