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Piramal Pharma rises despite getting two observations from USFDA for Sellersville facility
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Piramal Pharma is currently trading at Rs. 117.75, up by 0.35 points or 0.30% from its previous closing of Rs. 117.40 on the BSE.
The scrip opened at Rs. 117.20 and has touched a high and low of Rs. 119.40 and Rs. 117.00 respectively. So far 97033 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 201.80 on 19-Oct-2022 and a 52 week low of Rs. 113.10 on 29-Dec-2022.
Last one week high and low of the scrip stood at Rs. 121.00 and Rs. 115.20 respectively. The current market cap of the company is Rs. 14110.99 crore.
The promoters holding in the company stood at 34.79%, while Institutions and Non-Institutions held 32.21% and 32.99% respectively.
United States Food and Drug Administration (USFDA) has completed Pre-Approval Inspection (PAI) and Good Manufacturing Practices (GMP) inspection at Piramal Pharma’s Sellersville (USA) facility. USFDA inspected the said facility from December 19, 2022 to January 13, 2023.
At the conclusion of the inspection, the USFDA issued a Form-483, with two observations. The observations were classified under VAI (Voluntary Action Indicated) and does not relate to data integrity. The Company is preparing a detailed response to the observations, which will be submitted to the USFDA within the stipulated timelines. The Company remains committed to maintain the highest standards of compliance and will work closely with the agency to comprehensively address all the observations.
Piramal Pharma (PPL) offers a portfolio of differentiated products and services through end-to-end manufacturing capabilities across 15 global facilities and a global distribution network in over 100 countries.
