Unichem Labs gains post USFDA inspection

The USFDA has completed the inspection at Unichem Laboratories' Ghaziabad facility. The shares gained over 2 per cent intraday, on Monday.

The inspection was concluded by the United States Food and Drug Administration (USFDA) without any form 483. The USFDA had conducted an inspection at the company’s facility from March 5 to March 8, 2019.

Unichem Laboratories is a pharmaceutical company that manufactures active pharmaceutical ingredients. The company has multiple pharma products in its portfolio addressing therapeutic areas including gastroenterology, cardiology, diabetology, psychiatry, neurology and anti-bacterial. Its products are used for the treatment of acne, immune-mediated skin disorders, hereditary skin diseases and genodermatoses, among others.

The shares of Unichem Laboratories on Monday opened at Rs. 198.20 per share against Friday’s close of Rs. 197.90. At 12:08 hours, the shares were trading at Rs. 203.10, gaining 2.63 per cent. The stock reached an intraday high of Rs. 204.25 and an intraday low of Rs. 197.80 per share on the BSE. The 52-week high stood at Rs. 354 and the 52-week low was Rs 182 per share on the BSE.

Meanwhile, Sensex was quoting 36,973.57 level, up by 0.82 per cent or 302.14 points.