Cadila Healthcare soars 5% on zero observations from USFDA for Moraiya unit

Cadila Healthcare shares rallied nearly 5 percent intraday Thursday after getting zero observations from the US health regulator for Moraiya plant.

Sources told CNBC-TV18 that the US Food and Drug Administration has issued zero observations for Moraiya unit (Gujarat) after its re-inspection.

The USFDA had re-inspected this facility in 2017.

Earlier also, when the US health regulator had inspected Moraiya unit during February 6-15, 2017, it did not get any observations (483).

Cadila has been received several approvals from USFDA for drugs filed from Moraiya facility, especially since February inspection with zero observations.

At 13:10 hours IST, the stock price was quoting at Rs 514.45, up Rs 18.75, or 3.78 percent on the BSE.