Alkem Laboratories has been hitting new highs for the past couple of days. The stock hit a new 52-week today also at Rs.1624.95 and later slipped into the red to Rs.1587 levels; apparently profit booking coming in after so many days of consistent highs.

The company announced yesterday after market hours that the US FDA had inspected its bioequivalence facility at Taloja in Maharashtra from 1 August to 10 August 2016. And at the end of the inspection, there were no 483s issued by the USFDA.

This is very good news for the company as a Form 483 means that the FDA has observed that any conditions in their judgement may constitute violations of the Food Drug and Cosmetic (FD&C) Act and related Acts.