Pharma major Cadila Healthcare said that its topical manufacturing facility in Gujarat cleared US drug regulator's inspection.
The US Food and Drug Administration (USFDA) inspected Cadila Healthcare's topical manufacturing facility located in Ahmedabad from 16th to 20th December 2019. At the end of the inspection, no observation (483) is issued. The announcement was made during trading hours today, 20 December 2019.Cadila Healthcare was quoting at Rs 267.1, up 2.12% on the BSE. The stock has surged 8% in three months as compared to a 0.94% rise in Nifty Pharma index.
The stock continues to trade above its 50 days and 200 days simple moving average placed at 248.44 and 262.48. These levels will act as crucial support in near term.
Cadila Healthcare's consolidated net profit slumped 34.1% to Rs 303.60 crore on 23% rise in net sales to Rs 3,406.20 crore in Q1 June 2019 over Q1 June 2018.
Cadila Healthcare is headquartered in Ahmedabad, India, and ranks 4th in the Indian pharmaceutical industry. The group has manufacturing sites and research facilities spread across five states of Gujarat, Maharashtra, Goa, Himachal Pradesh and Sikkim in India and in the US and Brazil.
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