Divi's Labs up in the green

On Saturday, Divi’s Labs stated that the US FDA exempted some more products from the import alert. These products are manufactured at its Unit –II, Visakhapatnam facility.

It exempted 10 products from the import alert, including Levetiracetam, Gabapentin, Lamotrigine, Capecitabine, Naproxen sodium and BOC core succinate.

This comes as a relief for the company which on 21st March had received an import alert for products made its same unit and at that time it had excluded 6 products to which 4 more have been added now.

The company’s Vizag unit has received five observations in December.

The stock price has reacted positively to this news and the stock, which on Friday had closed at Rs.622.45, opened higher at Rs.655, going to an intra day high at Rs.656.