Unichem Lab rallies post successful USFDA inspection

The Mumbai headquartered pharma company, Unichem Laboratories announced that USFDA has cleared its Kolhapur facility with no observations on Friday. Cheering this development, the stock jumped nearly 6 per cent to hit an intraday high of Rs. 200.60 on BSE.

In a press release, the company said that the United States Food and Drug Administration (USFDA) has successfully concluded inspection at Unichem Laboratories’ newly commissioned Active Pharmaceutical Ingredients (APIs) facility at Kolhapur in Maharashtra without any FDA form 483 being issued.

The stated inspection was conducted from September 16, 2019 to September 20, 2019. The inspection was a cGMP surveillance and pre-approval inspection.

Unichem Laboratories is engaged in manufacturing of pharmaceutical products which has large international market. It is integrated specialty pharmaceutical company which has larger basket of formulation as branded generics in domestic as well international market. It has ability to cater the need of diverse range of therapeutic areas, such as gastroenterology, diabetology, psychiatry, neurology, anti-bacterial, anti-infective and pain management etc.

On Friday, the stock closed higher by 3.12 per cent higher at per share price of Rs. 194.90. The benchmark index BSE Sensex closed with historic gains of 1921.15 points at 38,015.