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Jubilant Life Sciences stock up over 7 pct on resolution of FDA concerns

Feb 28 2014, 19:55 IST
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The stock of the integrated pharmaceuticals and life sciences company ended the day 6.86 per cent higher at Rs 124.55 on the BSE. Reuters The stock of the integrated pharmaceuticals and life sciences company ended the day 6.86 per cent higher at Rs 124.55 on the BSE. Reuters
SummaryOn the NSE, the scrip shot-up by 7.36 per cent to close at Rs 124.65.

Shares of Jubilant Life Sciences Ltd today soared more than 7 per cent after the company announced successful resolution of USFDA warning letter for its Montreal, Canada, facility.

The stock of the integrated pharmaceuticals and life sciences company ended the day 6.86 per cent higher at Rs 124.55 on the BSE. During the day, the stock surged 8.1 per cent to Rs 126.

On the NSE, the scrip shot-up by 7.36 per cent to close at Rs 124.65.

"We have received a communication from the US Food and Drug Administration (FDA), classifying its pharmaceutical manufacturing facility at Montreal, Canada, as 'Acceptable'.

"This resolves all issues raised by the FDA on the facility in February 2013 and subsequent communications," a company statement said.

The development follows completion of FDA's review of the company's responses post the February letter and the subsequent re-inspection conducted at Jubilant's Montreal facility in September 2013. This development successfully resolves the FDA issues at our Montreal facility, it said.

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