Shares of Alembic Pharma today rose by over 3 per cent after the company announced that the US drug regulator completed inspection of its bioequivalence facility in Baroda and made no adverse observation.
The stock went up by 3.55 per cent to end at Rs 623.95 on BSE. During the day, it jumped 7 per cent to Rs 645.
At NSE, shares of the company rose by 3.83 per cent to close at Rs 624.40.
The company's market valuation went up by Rs 403.45 crore to Rs 11,762.45 crore.
"This is to inform the exchange that the company's bioequivalence facility located at Baroda was inspected by the US Food and Drug Administration (US FDA) from March 6, 2017 to March 10, 2017.
"There were no 483s issued by US FDA at the end of the inspection," Alembic Pharmaceuticals said in a BSE filing.
The FDA Form 483 notifies the company's management of objectionable conditions.
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