Drug firm Strides Arcolab today said the US health regulator has extended its approval for the company's Bangalore facility.
"Oral dosage forms' manufacturing site in Bangalore was recently inspected by the United States Food and Drug Administration (USFDA) as part of the GMP compliance audit and the facility continues to be approved with zero inspectional observation," Strides Arcolab said in a statement.
Shares of the company closed higher by 4.29% at Rs 296.45 on the BSE. During the day, the shares had touched a high of Rs 299.70 apiece following the announcement.
The last USFDA inspection and approval for this facility was done in 2008, it added.
"This continued approval of the site with zero observation in FDA 483 augurs very well for the pharma division of the company in this challenging regulatory and business environment," Strides Arcolab CEO Manish Gupta said.
The facility manufactures tablets and capsules and the plant supports current and future plans for the US market, the company said.
