Dishman Pharma shares climb after clarification on USFDA warning

By: | Updated: November 18, 2015 4:26 PM

Dishman Pharma has said that the company has not received any USFDA warnings or any communication whatever due to Clovis issue.

Dishman PharmaIn a BSE filing, Dishman Pharma said, “The company has not recieved any USFDA warnings or any communication whatever due to Clovis issue.”

Shares of Dishman Pharmaceuticals climbed as much as 6 per cent in the early trade on Wednesday after the pharma major issued a clarification on Tuesday (post market hours) regarding a report on the USFDA warning letter to the company for Clovis issue.

In a BSE filing, Dishman Pharma said, “The company has not received any USFDA warnings or any communication whatever due to Clovis issue.”

At 9.32 am, the share price of Dishman Pharmaceuticals was up 5.23 per cent at Rs 342. The scrip opened at Rs 338.60 and had touched a high and low of Rs 344.55 and Rs 327, respectively, in trade so far.

The share price of Dishman Pharma closed 1.85 per cent up at Rs 331 on Wednesday.

The share price of Dishman Pharmaceuticals and Chemicals fell as much as 16.14 per cent on the BSE on Tuesday on reports that the US Food and Drug Administration (USFDA) on Monday asked the company for more data on US firm Clovis Oncology Inc’s lung cancer drug, Rociletinib. Traders thought Dishman was supplying active ingredient for Rociletinib.

“Dishman supplied active ingredient for Rociletinib to Clovis only for clinical testing,” Harshil Dalal, vice-president of finance at Dishman, told Reuters.

“Dishman does not expect any revenue from Rociletinib in fiscal 2016 or 2017,” said, Dalal.

(With inputs from Reuters)

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