Claris Lifesciences Stock Zooms 20%


Mumbai: Shares of Claris Lifesciences on Monday soared 20 per cent after the company received the Establishment Inspection Report (EIR) from the US health regulator for its manufacturing plant near Ahmedabad.

The stock jumped 20 per cent to settle at Rs 201.90 — also its highest trading permissible limit for the day – at BSE.

The company added Rs 183.72 crore to Rs 1,101.72 crore in market valuation.

Claris Lifesciences has “received the EIR for its manufacturing facility located near Ahmedabad, wherein the US Food and Drug Administration (USFDA) has concluded that the inspection stands closed and the facility was found to be acceptable,” Claris Lifesciences said in a filing to BSE on Monday.

The USFDA had conducted audit at Claris’ manufacturing facility in May, 2015, it added.

“The company had taken appropriate steps to address the observations it had received from these audits,” Claris said.

Having received the EIR from the USFDA potentially clears the path for the company to receive product approvals (ANDA) for the USA, it added.