Cadila Healthcare shares rebounded in last morning trade Wednesday after the Moraiya facility received establishment inspection report from the US health regulator.
"Zydus Cadila's formulations manufacturing facility at Moraiya, Ahmedabad has received an establishment inspection report from the US Food and Drug Administration, signifying the successful closure of audit," the company said in its filing.
The facility had completed the USFDA audit from February 6-15 with zero 483 observations.
Post the audit in February, the group, so far, has received approvals for four drugs that have been filed from its Moraiya facility, including Levofloxacin (used for bacterial infections), Mesalamine (used to treat mild to moderate ulcerative colitis), Ezetimibe tablets (used to reduce high cholesterol) and Acyclovir (that caters to anti-viral segment).
Meanwhile, a meeting of the board of directors is scheduled to be held on June 26 to consider fund raising plans.
"The board will consider raising of funds by issue of equity shares / convertible bonds / debentures through qualified institutional placement (QIP) / GDR / ADR; the issue of secured / unsecured redeemable non-convertible debentures / foreign currency bonds on private placement basis; and the issue of foreign currency bond / foreign currency convertible bonds," it said in its filing.
At 12:01 hours IST, the stock price was was quoting at Rs 525.00, up Rs 1.20, or 0.23 percent on the BSE.
Posted by Sunil Shankar Matkar
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