Ajanta Pharma Gains Over 5% US FDA Issues No Observations At Dahej Plant

Ajanta Pharma gained over 5% on an intraday basis on Monday, even as investors relished the fact that U.S.FDA issued no observation during its inspection.

In its filing at the Exchanges, the company announced that its formulation facility at Dahej was inspected by US Food and Drug Administration (FDA) from April 3 to April 7, 2017.

No form 483 was issued to the company as per its filing. The stock recently gained traction, even as a leading brokerage firm in India initiated a coverage in the stock, citing growth opportunities in the US markets for the company. Over one month the stock has gained nearly 3%. Over one year period the stock has gained almost 19%. Ajanta Pharma is a multinational company engaged in development, manufacturing and marketing of pharmaceutical formulations.

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