Ahmedabad-based pharmaceutical company Cadila Healthcare on Friday, May 29, registered a surge of 3 per cent in its share in the early morning trade.
The rise in the share came on the heels of the firm’s Baddi unit located in Himachal Pradesh getting an establishment inspection report (EIR) from the United States Food and Drug Administration (USFDA). The audit had given nil observations with no action indicated classification (NAI), reported Moneycontrol.
As per the report, the USFDA had inspected the Baddi unit of the firm from March 2 to 9.
Now, the status of the inspection is ‘closed’, the report added.
Once a company gets an NAI from the USFDA, it means the firm is under no objectionable conditions or the objectionable conditions found need not further regulatory action.
At 01:00 pm Indian Standard Time (IST), Cadila Healthcare was quoting at Rs 346.65, up Rs 8.55 on BSE.
Cadila Healthcare Ltd is an Indian pharmaceutical company. It is one of the leading pharmaceutical companies of the country and ranks 4th in the Indian pharmaceutical industry. It has manufacturing sites and research facilities located in five states - Gujarat, Maharashtra, Goa, Himachal Pradesh and Sikkim in India and has presence in the US and Brazil. Primarily, it manufactures generic medicine.