USFDA To Lift Import Alert From Divis Lab’s Vizag Unit

Divis Lab on Monday informed that the US Food & Drug Administration (USFDA) will lift the import alert 99-32 imposed on the company’s Unit-II at Visakhapatnam.

On March 2017, USFDA has issued import alert for violation of good manufacturing practices, but exempted 10 products, including drugs to treat epilepsy, cancer and HIV. The import alert means products manufactured in the unit will not be allowed to be marketed in the US.  
The company also received a warning letter and on May 2017 for Visakhapatnam facility.

Meanwhile, the stock on BSE surged 14.97% at Rs 782.00 per share. The stock attracted a total traded quantity of 21.84 lakh.

As per market observers, the company has a return of equity of 27.43% for 3 years. The company has also been maintaining a dividend payout of 29.00%.

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