Aurobindo Pharma gains on getting EIR from USFDA

Aurobindo Pharma gained around 12 per cent to Rs 406 on Friday after the company informed that it has received an EIR from USFDA for its Hyderabad facility.

In an exchange filing made on March 27, Aurobindo Pharma stated that the company’s unit VIII, an active pharmaceutical ingredient (API) manufacturing facility located at Gaddapotharam in Telangana has received an established inspection report (EIR) with voluntary action initiated (VAI) from US Food & Drug Administration (USFDA).

Meanwhile, the company had earlier said that USFDA inspected the above-mentioned facility from October 21 to 25, 2019 and issued form 483 with four observations.

On March 27, the company also informed that it has received USFDA approval for its muscle relaxant-Tizanidine Hydrochloride. Soon after this approval, the stock hit an upper circuit of Rs 397.50 per share.

Aurobindo Pharma Limited is a pharmaceutical manufacturing company, headquartered in Hyderabad (Telangana). The company manufactures generic pharmaceuticals and APIs.

At the time of market closing on Friday, the stock of Aurobindo Pharma Ltd was trading at Rs 392.30, up by 8.55 per cent against its previous close of Rs 361.40. Its 52-week high is Rs 838.00 while, its 52-week low is Rs 281.15 on BSE.