Alkem Laboratories surges on receiving EIR from USFDA for its Baddi facility

31 Jul 2019

Alkem Laboratories is currently trading at Rs. 1780.65, up by 18.50 points or 1.05% from its previous closing of Rs. 1762.15 on the BSE.

The scrip opened at Rs. 1785.00 and has touched a high and low of Rs. 1785.00 and Rs. 1776.05 respectively. So far 45 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 2265.00 on 10-Sep-2018 and a 52 week low of Rs. 1660.35 on 28-Jun-2019.

Last one week high and low of the scrip stood at Rs. 1836.45 and Rs. 1756.00 respectively. The current market cap of the company is Rs. 21069.15 crore.

The promoters holding in the company stood at 66.03%, while Institutions and Non-Institutions held 8.69% and 25.28% respectively.

The US Food and Drug Administration (USFDA) has issued an Establishment Inspection Report (EIR) for Alkem Laboratories’ manufacturing facility located at Baddi, which was inspected from May 13, 2019 to May 17, 2019. The inspection has now been closed by the USFDA. In response to the Form 483 issued by the USFDA containing four observations, the company had submitted a detailed corrective and preventive action (CAPA) plan to the regulator within the stipulated timelines.

Alkem Laboratories is a leading Indian pharmaceutical company with global operations, engaged in the development, manufacture and sale of pharmaceutical and nutraceutical products. The company produces branded generics, generic drugs, active pharmaceutical Ingredients (APIs) and nutraceuticals, which it markets in India and International markets.

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323