Large cap pharma stock hits 52-week high after US FDA conducts inspection at unit’s subsidiary; do you own?
Shares of Aurobindo Pharma were locked in at over four per cent upper circuit at ₹1,081.45 apiece on the BSE, hitting its new 52-week high mark on Wednesday, December 20. The surge in share price came after the US Food and Drug Administration (FDA) had conducted an inspection at a subsidiary of the pharma major earlier today.
‘’The US Food and Drug Administration had conducted an inspection at the Unit IV, a Formulation manufacturing facility, of APL Healthcare Limited, a wholly owned subsidiary of the Company, situated at Menakuru Village, Naidupeta Mandal, Tirupati District, Andhra Pradesh, from September 13 to September 19, 2023,” said Aurobindo Pharma in a regulatory filing to the stock exchanges.
‘’The Unit has now received Establishment Inspection Report classifying the facility as “Voluntary Action Indicated” (“VAI”),” added the company in its exchange filing.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it’s all here, just a click away! Login Now!
Download The Mint News App to get Daily Market Updates.
Published: 20 Dec 2023, 06:23 PM IST
