Laurus Labs rose 2.01% to Rs 345.50 at 11:37 IST on the BSE after the company said that no data integrity issues were observed in the inspection concluded by the US drug regulator at Visakhapatnam units.
Meanwhile, the S&P BSE Sensex was down by 239.15 points, or 0.61% to 39,212.92.On the BSE, 2125 shares were traded in Laurus Labs counter so far compared with average daily volumes of 3676 shares in the past two weeks. The stock had hit a high of Rs. 350.80 and a low of Rs 339.80 so far during the day. It hit a 52-week high of Rs. 515 on 15 June 2018 and a 52-week low of Rs. 324 on 18 February 2019.
Laurus Labs announced after market hours on Friday, 14 June 2019, that the US Food and Drug Administration (USFDA) completed inspection of Active Pharmaceutical Ingredient (API) facilities in units 1 & 3 at Parawada, Visakhapatnam, Andhra Pradesh, with two observations.
The company stated that the observations are procedural in nature. It was a regular surveillance audit by USFDA, and no data integrity issues were observed in the inspection.
On a consolidated basis, Laurus Labs' net profit fell 4.21% to Rs 43.18 crore on a 13.37% rise in net sales to Rs 635.16 crore in Q4 March 2019 over Q4 March 2018.
Laurus Labs is a fully integrated pharmaceutical company in India.
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