Gland Pharma shares recover after EIR from USFDA for Hyderabad facility

This was a Pre-Approval Inspection (PAI) 7 products and Good Manufacturing Practice (GMP).

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Shares of Gland Pharma recovered their early losses and rose as much as 2 percent on September 26 after it received an Establishment Inspection Report (EIR) from the US FDA (US Food and Drug Administration) for its Pashamylaram facility at Hyderabad.

The inspection happened between 15th June, 2023 and 27th June, 2023. The EIR report indicates the closure of an inspection.

In Gland Pharma’s case, the inspection was done to pre-approve seven products and to check if the company was adhering to the FDA’s good manufacturing practices.

Shares of Gland Pharma were trading up after the exchange filing at Rs. 1690, up 1.81 percent on NSE at 11.26 am.

Gland Pharma Ltd had reported a 15.3 percent year-on-year (YoY) drop in net profit at Rs 194.1 crore for the first quarter that ended June 30, 2023.

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