Shilpa Medicare Gets EIR From US FDA Stock Surges By Over 6%

The US FDA has issued an Establishment Inspection Report (EIR) for the Shilpa Medicare's Active Pharmaceutical Ingredient (API) manufacturing facilities located at Raichur in the state of Karnataka which was inspected between December 12 and December 16, 2016.

The inspection has now been closed by the US FDA. The company had submitted a detailed corrective and preventive action (CAPA) plan to the regulator within the stipulated timelines in response to the form 483 issued at the end of the inspection. The US FDA has reviewed the CAPA and has found them acceptable.

BSE Healthcare index is trading lower by 0.23% at 15273 level. Cipla and Lupin Pharmaceuticals are the top contributors to the index losses.

Shilpa Medicare Limited is the top gainer in the index. The stock started upward rally owing to the EIR report from the US FDA.

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