Vivimed up 16% on successful USFDA inspection of Chennai plant

Vivimed Labs shares spiked more than 16 percent in early trade Wednesday after the successful inspection of Chennai plant by US Food and Drug Administration.
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Nov 30, 2016, 03.23 PM | Source: Moneycontrol.com

Vivimed up 16% on successful USFDA inspection of Chennai plant

Vivimed Labs shares spiked more than 16 percent in early trade Wednesday after the successful inspection of Chennai plant by US Food and Drug Administration.

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Vivimed up 16% on successful USFDA inspection of Chennai plant

Vivimed Labs shares spiked more than 16 percent in early trade Wednesday after the successful inspection of Chennai plant by US Food and Drug Administration.

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Moneycontrol Bureau

Vivimed Labs shares spiked more than 16 percent in early trade Wednesday after the successful inspection of Chennai plant by US Food and Drug Administration.

"FDF (finished dosage formulations) manufacturing facility located in Alathur, near Chennai has had a favourable outcome post its US Food and Drug Administration (USFDA) inspection," the specialty chemicals and pharmaceuticals company said.

The audit was conducted during the last week of November and concluded on November 28.

Furthermore, Vivimed obtained ANDA (abbreviated new drug application) approval for Metronidazole and same is commercialised, it said.

During November 2016, the company acquired ANDA of Zolpidem and the file transfer has successfully been completed. It is expected to be commercialised by Q4 FY2O17.

Vivimed said it is on track of its filing targets and has successfully completed 3 ANDA filings during FY2017 and expects one more filing to be completed by Q4 FY2017. These products provide vertical integration with the in-house APls.

All of the company's manufacturing plants focussed on the regulated markets have been inspected with a favourable outcome, over the last two years.

"Over the past two years, we have received satisfactory outcomes of USFDA inspection for our two plants in Spain, one in Mexico and one in India. For India plant, this was the second inspection," Santosh Varalwar, Managing Director said.

At 09:21 hours IST, the stock was quoting at Rs 102.95, up Rs 10.60, or 11.48 percent amid high volumes on the BSE.

Posted by Sunil Shankar Matkar

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Vivimed up 16% on successful USFDA inspection of Chennai plant
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Price when posted: NSE: Rs. 101.75

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