Alembic Pharma gains nearly 2% on successfully clearing first USFDA inspection

Shares of Alembic Pharmaceuticals added nearly 2 percent in the early trade on Monday after successfully clearing the first USFDA inspection.

Aleor Dermaceuticals, a 60:40 joint venture between Alembic Pharmaceuticals and Orbicular Pharmaceutical Technologies, has successfully cleared its first United States Food and Drugs Administration (USFDA) inspection of its new formulation manufacturing facility located at Karakhadi, Gujarat, India; without any observations, company said in release.

The scheduled inspection was carried out between October 15 and 19, 2018.

Pranav Amin, Managing Director of Alembic said, "We are very pleased to see Aleor make tremendous progress since inception and congratulate the entire team at Aleor for successfully clearing its first inspection."

At 09:16 hrs Alembic Pharmaceuticals was quoting at Rs 619.35, up Rs 11.25, or 1.85 percent on the BSE.