The USFDA has concluded review of the company's manufacturing activities and the company is allowed to continue supply of all the approved drug products by USFDA into inter-state commerce.
Shares of Panacea Biotec rose 6 percent intraday Friday as it received establishment inspection report (EIR) from USFDA for its Baddi plant.
The company announced the receipt of EIR from the US Food & Drug Administration (USFDA) indicating the formal closure of the inspection conducted by USFDA, at its pharmaceutical formulation facility for oncology parenteral and oral solids dosage at Malpur, Baddi plant.
The USFDA has concluded review of the company's manufacturing activities and the company is allowed to continue supply of all the approved drug products by USFDA into inter-state commerce.
The EIR notification also accelerates approval process for submitted drug product applications.
At 14:50 hrs Panacea Biotec was quoting at Rs 284.80, up Rs 3.60, or 1.28 percent on the BSE.
Posted by Rakesh Patil
