Dishman Pharma shares rally over 9% on completion of plant inspection by USFDA

Dishman Pharmaceuticals shares rallied as much as 9.48 per cent on Monday after the company on Saturday informed bourses that inspection of its Bavla plant has been successfully completed by the USFDA.

At 11.46 am, shares of Dishman Pharmaceuticals were trading 4.48 per cent up at Rs 142.20. The scrip opened at Rs 148 and has touched a high and low of Rs 149 and Rs 141.55, respectively, in trade so far. The scrip later ended 2.98 per cent up at Rs 140.15.

In a BSE filing, the company said, “Renewal of US FDA inspection of Company’s Bavla facility has been successfully completed on July 08, 2016.”

The Bavla plant is mainly used for making pharmaceutical intermediate and active pharmaceutical ingredient (API’s).

For the quarter ended March 31, 2016, the company reported a consolidated net profit of Rs 49.92 crore, up 29.29 per cent, against Rs 38.61 crore in the corresponding quarter a year ago.