Gland Pharma falls after USFDA concludes inspection at Pashamylaram Facility with three observations
Gland Pharma is currently trading at Rs. 2123.05, down by 4.75 points or 0.22% from its previous closing of Rs. 2127.80 on the BSE.
The scrip opened at Rs. 2000.05 and has touched a high and low of Rs. 2149.35 and Rs. 2000.05 respectively. So far 31509 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 2195.75 on 07-Feb-2024 and a 52 week low of Rs. 1,303.15 on 07-Aug-2023.
Last one week high and low of the scrip stood at Rs. 2182.00 and Rs. 2000.05 respectively. The current market cap of the company is Rs. 35166.26 crore.
The promoters holding in the company stood at 51.83%, while Institutions and Non-Institutions held 39.71% and 8.45% respectively.
United States Food and Drug Administration (USFDA) has conducted an un-announced inspection of Gland Pharma’s Pashamylaram Facility at Hyderabad for Good Manufacturing Practices (GMP) between July 25, 2024 and August 2, 2024.
The said inspection was concluded with three 483 Observations. These observations are procedural in nature. The corrective and preventive actions for these observations will be submitted to the USFDA within the stipulated period. The observations issued are neither repeated observations nor related to data integrity.
Gland Pharma develops, manufactures and markets complex injectables. The company sells its products primarily under a business-to-business model in many countries.