Alembic Pharmaceuticals saw a 3% surge in its stock price after receiving a favorable Establishment Inspection Report (EIR) from the US Food and Drug Administration (FDA). The report follows an inspection conducted at the company’s Oncology Formulation Facility (F-2) at Panelav. The inspection took place from October 7 to October 8, 2024.
The EIR signifies that the facility has met the necessary standards required by the FDA for manufacturing injectable and oral solid oncology formulations. This positive development is expected to bolster the company’s prospects in the highly competitive oncology market.
In the exchange filing, Alembic Pharmaceuticals shared, “The company has received an Establishment Inspection Report (EIR) from the US Food and Drug Administration (US FDA) for the inspection carried out by them at our Oncology Formulation Facility Injectable and Oral Solid) (F-2) at Panelav from 7th October, 2024 to 8th October, 2024.”
Alembic Pharmaceuticals’ stock opened at ₹888.80, reaching a high of ₹907.35 and a low of ₹877.05 in the current session. Over the past 52 weeks, the stock has seen significant fluctuations, with a high of ₹1,303.90 and a low of ₹725.20.
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