Laurus Labs said that its API Manufacturing facility situated in Parawada, Anakapalli (Vishakapatnam), Andhra Pradesh has cleared the US Food and Drug Administration (USFDA) inspection with zero observations.
The inspection was conducted from 15th April, 2024 to 19th April, 2024. The said inspection was closed with zero 483 observations.Laurus Labs is a fully integrated pharmaceutical and biotechnology company, with a leadership position in generic active pharmaceutical ingredients (APIs) and a major focus on anti-retroviral, oncology drugs, cardiovascular, gastro and hepatitis C therapeutics. The company also develops and manufactures oral solid formulations, provide contract research and manufacturing services (CRAMS) to global pharma companies.
The companys consolidated net profit dropped 88.6% to Rs 23.14 crore on 22.65% decrease in revenue from operations to Rs 1,544.82 crore in Q3 FY24 over Q3 FY23.
The scrip fell 1.26% to end at Rs 426.25 on Friday, 19 April 2024.
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