Laurus Labs reports successful completion of USFDA inspection at Unit 4, Visakhapatnam; stock rises 3%

The Company has announced that it has completed the US Food and Drug Administration inspection of Unit 4 at Visakhapatnam, Andhra Pradesh, without any observations and no form 483 issued.

Jul 12, 2019 10:07 IST India Infoline News Service

Pills Spilling From Bottle
Shares of Laurus Labs gained 3% in the last hour of trading after the company announced that it has completed the US Food and Drug Administration (USFDA) inspection of Unit 4 at Visakhapatnam, Andhra Pradesh, without any observations and no form 483 issued.

Laurus Labs Ltd announced that the maiden USFDA audit for its Unit 4 was successfully completed without any observations and no form 483 was issued.

The inspection was carried out from July 8 – 12, 2019, the company said.

Laurus Labs Ltd is currently trading at Rs354.05 up by Rs8.1 or 2.34% from its previous closing of Rs345.95 on the BSE.

The scrip opened at Rs343.55 and has touched a high and low of Rs363.50 and Rs340.45 respectively. So far 52,528 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs3,682.18cr.

The BSE group 'A' stock of face value Rs10 has touched a 52 week high of Rs477.05 on 11-Jul-2018 and a 52 week low of Rs322.05 on 20-Jun-2019. Last one week high and low of the scrip stood at Rs354.70 and Rs331.75 respectively.

Related Story