Granules India's US subsidiary gets 'Voluntary Action Indicated' observation from US FDA; Stock trades higher

26 Aug 2022 , 09:39 AM

Granules India Limited has further informed regarding the US FDA inspection of Granules Pharmaceuticals, Inc. (GPI), a wholly-owned foreign subsidiary of the Company located in Chantilly, Virginia, USA and issuance of Form 483 with 6 observations.

It is informed that the GPI has received a communication from the US FDA indicating the inspection classification as “Voluntary Action Indicated.” (VAI). 

Further, the VAI inspection classification indicates that the US FDA will not take or recommend regulatory or enforcement action because the observations do not meet the threshold for action at this time, the company said.

At around 9:42 AM, Granules India Ltd is currently trading at Rs308.60 per share up by Rs2.1 or 0.69% from its previous closing of Rs306.50 per share on the BSE.

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