Laurus Labs in good health

Laurus Labs is doing very well today. The stock price rose 3.5% to Rs.555 and it remains firmly in the green in this morning session.

For once there was good news from the US FDA. The company stated that the FDA had conducted inspection of its API facilities in units 1 and 3 at Parawada, Visakhapatnam, Andhra Pradesh on 18th August.

The company came out smelling of roses as it had got only two observations and they were minor – only procedural in nature.

This was a regular surveillance audit by USFDA and no data issues were observed in the inspection.

Surely the company and its shareholders would have heaved a sigh of relief!