 "Alembic Pharma surges on successful USFDA audit of Panelav API facilities")
Alembic Pharmaceuticals has surged 9% to Rs 595 on the BSE in intra-day trade after the company said the US health regulator conducted a successful inspection of its active pharmaceutical ingredient (API) facilities at Panelav, Gujarat this month.
“The company's API facilities i.e. API I and API II both located at Panelav have been successfully inspected by the United States Food and Drug Administration (USFDA) between June 20, 2016 and June 29, 2016,” Alembic Pharmaceuticals said in a BSE filing.
The Company did not receive any Form 483 observations, it added.
At 10:41 AM, the stock was up 7% at Rs 587 on the BSE. The trading volumes on the counter more than doubled with a combined 414,416 shares changed hands on the BSE and NSE so far.
“The company's API facilities i.e. API I and API II both located at Panelav have been successfully inspected by the United States Food and Drug Administration (USFDA) between June 20, 2016 and June 29, 2016,” Alembic Pharmaceuticals said in a BSE filing.
The Company did not receive any Form 483 observations, it added.
At 10:41 AM, the stock was up 7% at Rs 587 on the BSE. The trading volumes on the counter more than doubled with a combined 414,416 shares changed hands on the BSE and NSE so far.
