Anuh Pharma spikes 18 %, post regulatory clearance

Mumbai based leading API (active pharmaceutical ingredients) manufacturer, Anuh Pharma has surged in trade, post receiving regulatory clearance for its Boisar manufacturing site and grant of GMP (goods manufacturing practices) certificate for the same facility.

It was the very same facility for which the WHO (World Health Organisation) has suspended the prequalification of two of its APIs. WHO has suspended pyrazinamide and sulfadoxine, which was an imminent blow to the pharma major.

However, post remediation efforts undertaken by the company, WHO based out of Geneva cleared the product, post inspection of the manufacturing facility on September 16, 2016. Company was also granted GMP certificate by French National Agency for Medicines and Health Products Safety (ANSM).

Reacting to this, shares of Anuh Pharma have surged more than 18 per cent in trade, post company filing to the exchanges. Shares hit an intra-day high of Rs 245 before cooling down to trade with a gain of 14.3 per cent at Rs 234 on NSE.

Stock has been in a range bound movement from the past two quarters as this was one of the major overhangs affecting the company.