Large cap pharma stock hits 52-week high after US FDA conducts inspection at unit's subsidiary; do you own?
Aurobindo Pharma were locked in at over four per cent upper circuit at ₹1,081.45 apiece on the BSE, hitting its new 52-week high mark on Wednesday, December 20. The surge in share price came after the US Food and Drug Administration (FDA) had conducted an inspection at a subsidiary of the pharma major earlier today.
‘’The US Food and Drug Administration had conducted an inspection at the Unit IV, a Formulation manufacturing facility, of APL Healthcare Limited, a wholly owned subsidiary of the Company, situated at Menakuru Village, Naidupeta Mandal, Tirupati District, Andhra Pradesh, from September 13 to September 19, 2023,'' said Aurobindo Pharma in a regulatory filing to the stock exchanges. ‘’The Unit has now received Establishment Inspection Report classifying the facility as "Voluntary Action Indicated" ("VAI"),'' added the company in its exchange filing.
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