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Last Updated : Dec 12, 2019 04:00 PM IST | Source: Moneycontrol.com

Hikal share price jumps 12% as Panoli plant receives EIR from USFDA

The inspection confirmed the site to be compliant with the principles and guidelines of Current Good Manufacturing Practices (CGMP), company said.

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Shares of pharma company Hikal rallied more than 12 percent on December 12 after its Panoli plant received Establishment Inspection Report (EIR) from the US health regulator.

The stock closed at Rs 114.30 on the BSE, up Rs 12.65, or 12.44 percent.

The pharmaceutical manufacturing facility at Panoli in Gujarat was recently inspected by the US Food and Drug Administration in compliance with their requirements.

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The five-day detailed inspection was carried out during the period September 9-13 this year, the company said in its BSE filing.

The inspection confirmed the site to be compliant with the principles and guidelines of Current Good Manufacturing Practices (CGMP), it added.

Hikal said the inspection concluded with 'zero' 483 observations from auditors. "The EIR received today has classified the facility under NAI (No Action Indicated) for CGMP compliance."

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First Published on Dec 12, 2019 04:00 pm
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