Strides Pharma shares rise after Bengaluru plant clears FDA inspection
Strides Pharma's shares climbed over 7% on Thursday morning after its Bengaluru plant cleared a key US Food and Drug Administration (FDA) inspection.
The facility received an Establishment Inspection Report (EIR), confirming it passed the agency's quality check held in May.
Strides fixes 5 issues, earns VAI
The inspection had flagged five issues, but Strides fixed them by addressing all observations within the stipulated timeline, earning a Voluntary Action Indicated (VAI) status from the FDA.
This Bengaluru site is important for making medicines for global markets.
Strides said the clearance further strengthens Strides' regulatory track record and reinforces the company's commitment to supplying high-quality pharmaceutical products to patients across global markets.
Shares were trading at ₹1,032 after the news.