Granules India trades higher as its wholly-owned subsidiary clears USFDA audit

15 Mar 2022 , 12:40 PM

Granules India Limited stocks rallied during early trading deals on Tuesday as the pharma-major announced that Granules Pharmaceuticals, Inc. (GPI), a wholly-owned foreign subsidiary of the company, located in Chantilly, Virginia, USA received an Establishment Inspection Report (EIR) from the US Food and Drug Administration (US FDA).

The GPI facility was inspected by the US FDA from January 24-28, 2022 for two of its product applications filed. There were three minor observations during the inspection and GPI had addressed the observations in the stipulated time period.

Commenting on the audit Ms. Priyanka Chigurupati, Executive Director, GPI, said “We are glad to have completed yet another audit after successfully addressing minor observations. This is the sixth successful US FDA audit for this facility.”

At around 12:43 PM, Granules India was trading at Rs303.30 apiece up by Rs0.5 or 0.17%, after touching  intraday high at Rs313 per piece on the BSE.