Alembic Pharma share price up nearly 3% on successful USFDA inspection

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Alembic Pharmaceuticals share price rose nearly 3 percent in the early trade on January 9 on a successful USFDA inspection at Aleor Dermaceuticals.

Aleor Dermaceuticals, a 60:40 joint venture between Alembic Pharmaceuticals and Orbicular Pharmaceutical Technologies Pvt Ltd (Orbicular), has completed an inspection by the United States Food and Drug Administration (USFDA) at its formulation manufacturing facility in Gujarat's Karakhadi without any observations.

The inspection was carried out from January 6 to 8, 2020.

A meeting of the board of directors of the company would be held on January 22 to consider and approve unaudited financial results of the company for the quarter and nine months period ended December 31, 2019.

The trading window for dealing in securities of the company that was closed from January 1 will reopen 48 hours after the declaration of the financial results on January 22.

At 0920 hours, Alembic Pharmaceuticals was quoting at Rs 564.05, up Rs 12.05, or 2.18 percent, on the BSE.