Aurobindo Pharma share price gained in the opening trade on January 9 after the company received establishment inspection report from the US Food and Drug Administration (USFDA).
The USFDA had inspected the pharma firm’s formulation manufacturing facility in Chitkul in Telangana in September. The establishment inspection report has classified the facility as "Voluntary Action Indicated" (VAI).
The FDA defines VAI as “no objectionable conditions or practices were found during the inspection or the conditions found do not justify further regulatory action”. It is best outcome a plant can get from the American regulator and signals that the facility can function as is.
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In December, the company's arm Eugia US Manufacturing LLC received 10 observations from the FDA after conducting a pre-approval inspection (PAI) at its new injectable facility situated at East Windsor, New Jersey, USA.
USFDA classified a plant operated by its subsidiary APL Healthcare in Tirupati as "Voluntary Action Indicated" (VAI).
At 9.22 am, Aurobindo Pharma was quoting at Rs 1,123.80, up Rs 9.80, or 0.88 percent, on the BSE.
The share touched a 52-week high of Rs 1,133.95 on January 8, 2024 and a 52-week low of Rs 397.30 on February 3, 2023.
It is trading 0.9 percent below its 52-week high and 182.86 percent above its 52-week low.
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