Divis Laboratories rises 2% as Vizag unit get EIR from USFDA

November 20
21:05 2017
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Shares of Divis Laboratories rose 2.6 percent intraday Monday as its Visakhapatnam unit received EIR from USFDA.

The company has received an establishment inspection report (EIR) from United States Food & Drug Administration (USFDA) for its Unit-II at Visakhapatnam.

With this there is a closure of audit by FDA.

The company’s Unit-II at Visakhapatnam was inspected by USFDA in September, 2017 wherein a Form-483 was issued with 6 observations.

The company has posted 7.62 percent decline in its net profit to Rs 206.78 crore for the second quarter ended September 30, 2017 against Rs 223.85 crore in the same period of previous fiscal.

The share price has increased by 59.5 percent in the last 3 months.

At 11:22 hrs Divis Laboratories was quoting at Rs 1,029.75, up Rs 11.45, or 1.12 percent on the BSE.

Posted by Rakesh Patil