Bajaj Healthcare surges 8% as Vadodara plant gets EIR from US FDA

The receipt of the Establishment Inspection Report (EIR) signifies the successful conclusion of the inspection

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Shares of Bajaj Healthcare soared over 8 percent higher in early trade on September 14 after the company received an Establishment Inspection Report (EIR) from the US Food and Drug Administration (FDA) for its plant in Savli, Vadodara, Gujarat. At 09.27 am, shares of the company were trading at Rs 430, up 4.3 percent on the NSE.

The pre-approval inspection (PAI) for the plant was carried out by the USFDA in November 2022. The company received no 483 observations in the inspection.

The plant in Savli is an API (Active Pharmaceutical Ingredients) manufacturing facility, according to the company. The receipt of the Establishment Inspection Report (EIR) signifies the successful conclusion of the inspection.

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“The receipt of the EIR also opens up the opportunities for filing companies own Drug Master Files with the USFDA as well as CDMO opportunities that company is eying with various customers across the globe,” said Anil Jain, Joint Managing Director, Bajaj Healthcare in a press statement.

Bajaj Healthcare had reported a net profit of Rs 7.03 crore, in the June quarter of the current fiscal, which reflects a drop of 51 percent as compared to Rs 14.35 crore recorded in the same period in of FY23.

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