With the USFDA VAI classification, Ipca Laboratories stock rises 3%

24 Aug 2023 , 02:32 PM

Pharmaceutical production is a line of work for Ipca Laboratories. The company specializes in the creation of generic APIs, with a focus on therapeutic formulations.

The stock of Ipca Laboratories increased by 3% on August 24 following the bulk medicine and formulations manufacturer’s announcement that the United States Food and Drug Administration (USFDA) has classified its Piparia (Silvassa) manufacturing facility as voluntary action indicated (VAI).

‘This classification means that the facility was found to be adhering to a minimally acceptable state of compliance with regards to current good manufacturing practice,’ the business stated.

VAI, in the eyes of the USFDA, denotes the discovery of undesirable conditions or practices, but the agency (in this case, the USFDA), is not ready to suggest or take any administrative or regulatory action. After ‘no action indicated’ and before ‘official action indicated,’ this is regarded as the second-best classification.

Ipca Laboratories shares was trading at Rs 905.95 at 10.45 am on the NSE, up Rs 28.90 or 3.30 percent. Since August 1, there has been consolidation in the stock.

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