Aarti Drugs’ share price saw a sudden spike in the final hour of trading on Tuesday, December 24, breaking its eight-day losing streak and closing with a robust gain of 11.12 percent. Aarti Drugs share price opened at ₹425.95 compared to the previous closing price of ₹423.95 and remained flat for most of the day. However, it rose as much as 17 percent after it announced through an exchange filing that it had received the Establishment Inspection Report (EIR) from the USFDA. This allows the company to export some products to the US market. The stock settled down ₹471.10, an increase of 11.12 percent. It finished as the biggest gainer among Group A stocks.
Aarti Drugs News
In a stock exchange filing during market hours on Tuesday, December 24, the company said the US FDA had completed its inspection at its API manufacturing facility in Tarapur, Maharashtra.
“The US Food and Drug Administration (US FDA) had conducted an inspection at the company’s API manufacturing facility at Plot No. E-22, MIDC, Tarapur, Maharashtra. Now, the company has received the Establishment Inspection Report (EIR). EIR is a report containing details of the audit conducted. The company can export products such as Ciprofloxacin HCl API, Zolpidem Tartrate API, Raloxifene HCl API, Niacin API and in the US market,” said Aarti Drugs.
“FDA has determined that this facility’s inspection classification is ‘Voluntary Action Indicated’ (VAI). Based on this inspection, this facility is deemed to be in a minimum acceptable state of compliance with respect to Current Good Manufacturing Practices (CGMP), the company said.
