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Cadila Healthcare surged nearly 5 per cent today, extending its gains for the second session, after the company said the USFDA has inspected its Moraiya plant and found the unit complying with manufacturing norms.
The stock gained 4.27 per cent to end at Rs 447.80 on the BSE.
During the day, it surged 7.11 per cent to Rs 460 — its 52-week high.
On the NSE, shares of the company jumped 4.78 per cent to close at Rs 450.05.
On the volume front, 12.36 lakh shares of the company were traded on the BSE and over one crore shares changed hands on the NSE during the day.
The stock had surged 20 per cent in the previous session as well, adding Rs 9,188.19 crore to Rs 45,843.19 in its market valuation.
“United States Food and Drug Administration (USFDA) inspected company’s Moraiya facility from February 6, 2017, to February 15, 2017. At the end of the inspection no observation (483) is issued,” Cadila Healthcare had said in a filing to BSE yesterday.
FDA Form 483 notifies the company’s management of objectionable conditions.
As per the US health regulator’s website, “An FDA Form 483 is issued to firm management at the conclusion of an inspection when an investigator(s) has observed any conditions that in their judgement may constitute violations of the Food Drug and Cosmetic (FD&C) Act and related Acts”.
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