Aurobindo Pharma shares jump nearly 2% after Telangana plant vai
Aurobindo Pharma's shares got a nice boost, up nearly 2% on Wednesday, after the US Food and Drug Administration gave its Telangana facility a "Voluntary Action Indicated" (VAI) rating.
This means the plant, which makes oral solid medicines, was inspected earlier this year and received a VAI classification after the inspection.
TheraNym Biologics partners with Merck
The VAI tag signals objectionable conditions were found during the inspection, which reassured investors and pushed shares to ₹1,450.90 by this morning.
Meanwhile, Aurobindo's subsidiary TheraNym Biologics is stepping up too: they're teaming up with Merck to build a new $150 million to $175 million drug manufacturing facility.
Over the past month, Aurobindo's stock has climbed 8%, and it's up more than 27% in six months.