Piramal Pharma Ahmedabad facility gets EIR from USFDA

30 Sep 2024 , 07:48 PM

Piramal Pharma’s stock price rose 2% in the opening trading on September 30 after the business received an Establishment Inspection Report (EIR) for its production facility in Ahmedabad, India.

The USFDA examined the plant in July 2024 and issued a No Action Indicated (NAI) classification based on Zero Form – 483 observations.

In a recent report, global research company Jefferies raised the target price to ₹260, predicting a 20% growth.

 

Piramal Pharma’s consolidated net loss in the first quarter of FY25 was ₹88.6 crore, down from ₹98.6 crore the previous year. Year on year, revenue from operations increased by roughly 12% to ₹1,951 crore.

On September 11, 2024, and October 26, 2023, the stock reached a 52-week high of ₹244.10 and a low of ₹87.55.

The stock is currently trading 8.6% below its 52-week high and 154.83 percent higher than its 52-week low.

Piramal Pharma Limited (PPL) provides a portfolio of distinctive goods and services with end-to-end production capabilities across 15 global facilities and a global distribution network spanning more than 100 countries.

At around closing Piramal Pharma was trading 2.62% higher at ₹228.95, against the previous close of ₹223.10 on NSE. The counter touched an intraday high and low of ₹229.80, and ₹219.10, respectively.

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