Alembic Pharma shares surge over 7 per cent as Gujarat API unit gets USFDA EIR

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Updated: July 14, 2016 1:20:41 PM

USFDA had carried out inspection at Alembic Pharma's Karakhadi active pharmaceutical ingredient (API) plant III, based in Gujarat, in April 2015.

Alembic Pharmaceuticals shares surge over 7 per cent as Gujarat API unit gets USFDA EIR USFDA had carried out inspection at Alembic Pharma’s Karakhadi active pharmaceutical ingredient (API) plant III, based in Gujarat, in April 2015. (Photo: Reuters)

Alembic Pharmaceuticals Ltd shares surged over 7 per cent intraday on Friday after the company said that it has received Establishment Inspection Report (EIR) from USFDA for the inspection carried out its Karakhadi API Plant III in April, 2015.

At 1.16 pm, share price of the company was trading 4.78 per cent up at Rs 607.85. The scrip opened at Rs 582.30 and has touched a high and low of Rs 624 and Rs 576.30, respectively in trade so far. Later, the scrip settled the day 3.24 per cent up at Rs 598.90.

USFDA had carried out inspection at the company’s Karakhadi active pharmaceutical ingredient (API) plant III, based in Gujarat, in April 2015.

On BSE, so far 93,000 shares were traded in the counter, compared with average daily volume of 3996 shares in the past two weeks.

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