Ranbaxy Laboratories has rallied over 6% to Rs 419 on reports that the pharmaceutical company have got a clean chit from the American regulator.
According to media reports, the US Food and Drug Administration (FDA) have said it is satisfied with the manufacturing practices at Ranbaxy’s US facility, Ohm Laboratories Inc.
This would enable Ranbaxy, to continue supplying from this unit; it could also allow it to shift some pending applications to Ohm from its Mohali unit in India, under an FDA import alert, to avoid delays in product launches, the Business Standard report suggests.
This US facility was under surveillance of the FDA since the end of 2012.
The stock opened at Rs 432 and touched high of Rs 435 in early morning deals on the BSE. A combined around two million shares change hands on the counter on BSE and NSE till 0930 hours.
According to media reports, the US Food and Drug Administration (FDA) have said it is satisfied with the manufacturing practices at Ranbaxy’s US facility, Ohm Laboratories Inc.
This would enable Ranbaxy, to continue supplying from this unit; it could also allow it to shift some pending applications to Ohm from its Mohali unit in India, under an FDA import alert, to avoid delays in product launches, the Business Standard report suggests.
This US facility was under surveillance of the FDA since the end of 2012.
The stock opened at Rs 432 and touched high of Rs 435 in early morning deals on the BSE. A combined around two million shares change hands on the counter on BSE and NSE till 0930 hours.