Laurus Labs declines as its arm gets one observation from USFDA
Laurus Labs is currently trading at Rs. 579.50, down by 5.45 points or 0.93% from its previous closing of Rs. 584.95 on the BSE.
The scrip opened at Rs. 591.75 and has touched a high and low of Rs. 592.00 and Rs. 577.00 respectively. So far 14922 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 619.50 on 07-Jan-2025 and a 52 week low of Rs. 358.70 on 25-Jan-2024.
Last one week high and low of the scrip stood at Rs. 593.00 and Rs. 554.65 respectively. The current market cap of the company is Rs. 31225.42 crore.
The promoters holding in the company stood at 27.60%, while Institutions and Non-Institutions held 38.30% and 34.10% respectively.
Laurus Labs’ wholly-owned foreign subsidiary -- Laurus Generics Inc. (LGI) has undergone a Post-marketing Adverse Drug Experience (PADE) inspection by USFDA. The inspection included a comprehensive scrutiny of practices and procedures for reporting of adverse events of Laurus Labs marketed products worldwide.
The inspection was conducted for four days between January 13, 2025 to January 21, 2025. It has been issued a Form 483 with one observation and the company will address the said observation within stipulated timelines.
Laurus Labs is a leading research and development driven pharmaceutical company in India. The company has grown consistently to become one of the leading manufacturers of APIs for anti-retroviral (ARV) and Hepatitis C. It also manufactures APIs in oncology and other therapeutic areas.
