Aurobindo Pharma in green

Aurobindo Pharma has been gaining for the past 4 days. It opened with a gain of over 6.5% at Rs.385, and going on to an intraday high at Rs.406.05, a jump of almost 12.5%. This was very close to its 15% UC of Rs.415.60.

The company announced yesterday morning that with regard to the USFDA inspection of Unit VIII, API manufacturing facility at Gaddapotharam, Hyderabad, it has received the Establishment Inspection Report (EIR) with Voluntary Action Initiated (VAl) status from USFDA.

This is the same unit, which in Nov’19, after the FDA inspection, had been issued a 'Form 483' with 4 observations for the said facility.