Drug firm Panacea Biotec today said it has received Establishment Inspection Report (EIR) from the US health regulator for its Baddi facility in Himachal Pradesh. The company has received EIR from the United States Food & Drug Administration (USFDA) indicating the formal closure of the inspection conducted by it, at the company's pharmaceutical formulation facility for oncology parenteral and oral solids dosage at Baddi, Panacea Biotec said in a filing to BSE. Commenting on the development, Panacea Biotec Joint MD Rajesh Jain said: "This EIR notification again demonstrates the company's ability to produce drugs in cGMP compliant environment in a sustainable manner." The company remains committed to continue to manufacture and supply quality products to cater to patients' needs across several markets including USA, he added. As per the USFDA, after the completion of an inspection of a facility, an EIR is issued to a company detailing inspectional findings. Shares of Panacea Biotec today closed at Rs 281.05 per scrip on BSE, down 0.05 per cent from its previous close.
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