Gland Pharma receives Establishment Inspection Report from USFDA for Pashamylaram facility

26 Sep 2023 , 01:01 AM

On September 26, after receiving an Establishment Inspection Report (EIR) from the US FDA (US Food and Drug Administration) for its Pashamylaram facility in Hyderabad, Gland Pharma’s shares regained some of their early losses and increased by as much as 2%.

The inspection took place between June 15 and June 27, 2023. The conclusion of an inspection is noted in the EIR report.

In the case of Gland Pharma, the inspection was conducted in order to pre-approve seven goods and determine whether the business was following the FDA’s good manufacturing practices.

Following the exchange filing, shares of Gland Pharma were trading higher on the NSE at 11.26 a.m., up 1.81% to Rs 1690.

For the first quarter that ended June 30, 2023, Gland Pharma Ltd. reported a 15.3% year-over-year (YoY) decline in net profit at Rs 194.1 crore.

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