Vivimed Labs gains on zero 483 observations from USFDA

The stock rallied 7% to Rs 112 on BSE in early morning trade.

Vivimed Labs  rallied 7% to Rs 112 on the BSE in early morning trade after the US health regulator recently inspected the company’s manufacturing plant in Spain and did not issue any observations.

The company’s active pharmaceutical ingredient (API) manufacturing facility located at Sant Celoni, Spain, was recently inspected by the United States Food and Drug Administration (USFDA).

At the end of the successful inspection, ‘zero’ 483 observations were issued. This was a routine inspection by the USFDA, Vivimed Labs said in a release.

At 09:28 am; the stock was up 6% at Rs 111.65 on BSE as compared to 0.24% rise in the S&P BSE Sensex. A combined 782,310 shares changed hands on the counter on BSE and NSE so far.