Unichem Labs up 9% as USFDA completes Ghaziabad plant with no observations

The stock surged 9% to Rs 283 after the company said it has not received any observations from the US health regulator following completion of inspection of the company's facility in Ghaziabad, UP.

Shares of Unichem Laboratories have surged 9% to Rs 283 per share on the BSE in early morning trade after the pharmaceutical company said it has not received any observations from US health regulator following completion of inspection of the company’s facility in Ghaziabad, Uttar Pradesh.

“The Company's formulation manufacturing facility at Ghaziabad was inspected by the United States Food and Drug Administration (USFDA) from 16/04/2018 to 20/04/2018,” Unichem Labs said in a regulatory filing.

The Inspection concluded with zero observations. This inspection also covered one of the first to file molecules, it added.

At 09:18 am; the stock was trading 8% higher at Rs 280 as compared to 0.14% decline in the S&P BSE Sensex. A combined 139,746 shares changed hands on the counter on the BSE and NSE.