Alembic Pharma gains 3% after clarifies on USFDA observations

Alembic Pharmaceuticals shares recouped opening losses to trade 3 percent higher after the company clarified that none of the observations to Panelav facility are related to data integrity or repetitive in nature.

The company informed exchanges that the United States Food and Drug Administration (US FDA) has conducted an inspection at formulation facility at Panelav during March 12-20.

“This was a scheduled inspection and at the end of the inspection, the US FDA issued a Form 483 with 3 observations. None of the observations are related to data integrity or repetitive in nature,” the company said.

Alembic further said it would submit the reply to the US FDA shortly.

At 09:28 hrs Alembic Pharmaceuticals was quoting at Rs 550, up Rs 16.30, or 3.05 percent on the BSE.moneycontrol

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