After the US Food and Drug Administration (USFDA) completed an examination of the company's Sellersville, US manufacturing plant, shares of Piramal Pharma shot up almost 10% in early trading on April 19.
At 10:18 am on the National Stock Exchange, Piramal Pharma shares were trading at Rs 77.50, up 7.86% from the previous close. Additionally, a Rs. 78.75 intraday high was reached by the stock.
Ten million shares of the corporation have been traded on exchanges thus far, versus a one-month daily average of 3.8 million shares.
Inspected from December 19, 2022, to January 13, 2023, is the facility. An Establishment Inspection Report (EIR) was also released by the FDA after a visit to the Sellersville production site. For FDA inspections, the EIR serves as the final inspection report.
Though it's possible that it's not always the case, the EIR typically provides thorough information on the facility's categorization. The fact that a facility has received an EIR should not be used to imply that cleaning has taken place.
The Sellersville factory of Piramal Pharma produces and packages a range of medications, including liquids, creams, ointments, and solid oral dosage forms. This website is completely integrated.
The USFDA has been scrutinizing domestic pharmaceutical businesses more closely than before, particularly since physical inspections resumed following COVID. The possibility for a drug's economic success might be hampered by delays in getting FDA clearance. Delays in medication introductions might impact domestic pharmaceutical companies' financial performance given that the US accounts for a sizable amount of their income.
Additionally, in February, the FDA released an EIR for Piramal Pharma's Lexington division.
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