Orchid Pharma jumps over 13% on getting EIR report from USFDA

Shares of Orchid Pharma surged over 13 per cent after the company received an Establishment inspection report (EIR) from the US health regulator based on the successful inspection closure for the API manufacturing facility in Tamil Nadu.
The stock soared 13.29 per cent to Rs 43.90 on BSE.
On NSE, it jumped 12.88 per cent to Rs 43.80.
"Orchid received the Establishment inspection report (EIR) from USFDA based on the successful inspection closure for the API manufacturing facility located at Alathur, Kancheepuram district. The facility was inspected by USFDA in the month of August 2015," the company said in a BSE filing today.

USFDA releases a copy of the EIR to the establishment that was the subject of an FDA or FDA-contracted inspection when the agency determines the inspection to be closed.