 "Cadila shares extend gains; surge nearly 5%")
Cadila Healthcare surged nearly 5 per cent on Friday, extending its gains for the second session, after the company said the US Food and Drug Administration (USFDA) has inspected its Moraiya plant and found the unit complying with manufacturing norms.
The stock gained 4.27 per cent to end at Rs 447.80 on BSE. During the day, it surged 7.11 per cent to Rs 460 — its 52-week high.
On NSE, shares of the company jumped 4.78 per cent to close at Rs 450.05.
On the volume front, 12.36 lakh shares of the company were traded on BSE and over one crore shares changed hands at NSE during the day.
The stock had surged 20 per cent in the previous session as well, adding Rs 9,188.19 crore to Rs 45,843.19 in its market valuation.
"USFDA inspected company's Moraiya facility from February 6, 2017, to February 15, 2017. At the end of the inspection no observation (483) is issued," Cadila Healthcare said in a filing to BSE on Thursday.
The FDA Form 483 notifies the company's management of objectionable conditions.
As per the US health regulator's website, "An FDA Form 483 is issued to firm management at the conclusion of an inspection when an investigator(s) has observed any conditions that in their judgement may constitute violations of the Food Drug and Cosmetic (FD&C) Act and related Acts."
