Caplin Point Laboratories rose 2.75% to Rs 513 at 11:19 IST on BSE after the company said that its sterile injectable site has completed the USFDA audit with no observations.
The announcement was made during trading hours today, 7 September 2018.Meanwhile, the S&P BSE Sensex was up 20.88 points, or 0.05% to 38,263.69.
On the BSE, 21,000 shares were traded in the counter so far compared with average daily volumes of 20,000 shares in the past two weeks. The stock had hit a high of Rs 522 and a low of Rs 504.20 so far during the day. The stock hit a 52-week high of Rs 745 on 20 September 2017. The stock hit a 52-week low of Rs 336.40 on 6 June 2018.
Caplin Point Laboratories announced that the United States Food and Drug Administration (USFDA) conducted an inspection at the company's sterile injectable site (CP-IV) located at Gummudipoondi (Tamil Nadu) from 30 August 2018 to 6 September 2018. This was a scheduled inspection and at the end of the inspection, there were zero Form 483s.
An FDA Form 483 is issued to firm management at the conclusion of an inspection when an investigator has observed any conditions that in their judgment may constitute violations of the Food Drug and Cosmetic (FD&C) Act and related Acts. The FDA Form 483 notifies the company's management of objectionable conditions.
On a consolidated basis, net profit of Caplin Point Laboratories rose 2.95% to Rs 37.39 crore on 18.58% rise in net sales to Rs 146.46 crore in Q1 June 2018 over Q1 June 2017.
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Caplin Point Laboratories is a pharmaceutical company.
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