Alembic Pharma Jumps 6% As Panelav Unit Gets EIR From USFDA

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Shares of Alembic Pharmaceuticals rose nearly 6 per cent on the Bombay Stock Exchange after the drug maker said that its Panelav formulation facility has received establishment inspection report (EIR) from US Food & Drug Administration (FDA).

Alembic Pharma Jumps 6% As Panelav Unit Gets EIR From USFDA
Alembic Pharmaceuticals: Quotes, News
BSE 624.45BSE Quote7.8 (1.25%)
NSE 624.15NSE Quote6 (0.96%)
"The company's formulation facility located at Panelav has received establishment inspection report (EIR) from US Food & Drug Administration (FDA) for the inspection carried out by them in March, 2016," Alembic Pharmaceuticals said in a filing to the BSE.

Following the announcement, shares of company gained as much as 5.96 per cent in intra-day to trade at Rs 699.50 apiece on Bombay Stock Exchange.

In a similar fashion, stocks of company advanced 2.68 per cent to Rs 678.10 apiece on the National Stock Exchange.

Meanwhile, the broader benchmark BSE Sensex was trading at 28,283.05, down 51.50 points, or 0.18 per cent at 11:55 hours.

Read more about: alembic pharmaceuticals
Story first published: Wednesday, October 5, 2016, 12:50 [IST]
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