Unichem gains 5 per cent post successful inspection

The shares of Unichem jumped 5 per cent after the company announced a successful USFDA inspection.

United States Food and Drug Administration (USFDA) had conducted inspection at the Pithampur Active Pharmaceutical Ingredients (APIs) facility of Unichem Laboratories, from September 02, 2019 to September 05, 2019. The inspection was a post approval inspection and successfully concluded without any USFDA form 483 issued.

Unichem Laboratories is an international, integrated, specialty pharmaceutical company. It manufactures and markets a large basket of pharmaceutical formulations as branded generics as well as generics in India and several other markets across the world.

Recently, Unichem announced that it has received ANDA approval from the USFDA for Solifenacin Succinate Tablets, 5-mg and 10-mg to market (a generic version of Vesicare tablets of Astellas Pharma US, Inc) from its Goa plant.

The shares of Unichem Laboratories on Friday opened at Rs. 171.10 against Thursday’s close of Rs. 169.95. At 14:48 hours it was trading at Rs. 175.80, gaining 3.44 per cent from its previous close. The stock hit an intraday high of Rs. 178.65 and intraday low was Rs. 169.80. Its 52-week high was Rs. 239.75 and 52-week low was Rs. 158.35 per share on the BSE.