Piramal Pharma’s Canada unit gets NAI from USFDA

2 Jun 2025 , 03:18 PM

Piramal Pharma Limited’s shares gained in Monday morning session after the company announced that the United States Food and Drug Administration (USFDA) issued a form 483 with zero observations and no action indicated (NAI) for its Aurora facility in Canada.

However, later in the day, the counter erased early morning gains.

At around 3.11 PM, Piramal Pharma was trading 0.23% lower at ₹205.82, against the previous close of ₹206.30 on NSE. The counter touched an intraday high and low of ₹209.40, and ₹205.10, respectively.

The inspections were conducted by USFDA at the Canada facility between May 26 and May 30.

The company stated in its filing with the bourses that its remains committed to maintain highest compliance standards.

Additionally, the pharma company expects to pace up for meeting its 2030 revenue and margin targets. This comes when near-term uncertainty hovers the biotech funding environment.

The Company’s Chairperson also addressed that while its early-stage funding remains uneven, last-stage clinical development services demand continues to hold-up well.

The business said that its net profit for the quarter ended March 2025 registered a 51.50% growth. It reported a net profit of ₹153.50 Crore. In the previous corresponding quarter, the business posted a net profit of ₹101.30 Crore.

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