SMS Pharma surges 20% on successful inspection of Telangana unit by PMDA

The stock surged 20% to Rs 87.60 on BSE in intra-day trade on back of heavy volumes.

SMS Pharmaceuticals has surged 20% to Rs 87.60 on BSE in intra-day trade after the successful inspection of Telengana plant by Japanese regulator.

The company successfully completed inspection by Pharmaceuticals and Medical Devices Agency (PMDA) Japanese Authorities for the manufacturing facility-Unit II, located in Hyderabad – Telangana.

The inspection was done during the period July 25 – 27. The inspection was focussed on general GMP (Good Manufacturing Practice) inspection of the site. The inspection has been concluded with no critical/major observation.

At 02:52 PM; the stock was up 16% to Rs 84.35 on BSE, as compared to 0.95% rise in the S&P BSE Sensex. The trading volumes on the counter jumped multiple-fold with a combined 1.2 million shares changed hands on BSE and NSE so far.