USFDA concludes Torrent Pharma’s inspection with VAI

22 Nov 2024 , 02:58 PM

Torrent Pharma’s shares rose more than 2.5% in trading on November 22 after the firm announced the receipt of a USFDA Establishment Inspection Report (EIR) for its plant in Pithampur, Madhya Pradesh, saying that the business has taken voluntary action.
The USFDA’s Establishment Inspection Report (EIR) is a report that summarizes the results of an inspection at a facility, including any compliance concerns and talks that occurred during the visit. The USFDA gave a Voluntary Action Indicated (VAI) rating, meaning that the firm can correct the issues without administrative or regulatory action.
The USFDA examined Torrent’s manufacturing plant in Pithampur during the September quarter and issued a Form 483 with one observation.
Torrent Pharma reported constant currency revenue of $32 million, up 7% year on year. Torrent said that its US companies had provided consistent revenue. Torrent has stated that it does not expect the US business to grow much in the next two years, given the majority of its filed ANDAs are outdated, and it anticipates ‘low single digit approval’ of newer ANDAs.
At around 2.17 PM, Torrent Pharma was trading 1.98% higher at ₹3,163.25 per piece, against the previous close of ₹3,101.95 on NSE. The counter touched an intraday high and low of ₹3,189.70, and ₹3,102.05, respectively.
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