Gland Pharma share price rise 6% after USFDA completes inspection of Hyderabad facility

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Gland Pharma share price witnessed a 6.5% surge on Friday following the company's announcement that the United States Food and Drug Administration (USFDA) had successfully concluded its inspection of the Pashamylaram facility in Hyderabad..

Gland Pharma announced in a filed exchange statement that it has obtained the Establishment Inspection Report (EIR) from the US drug regulator, signifying the conclusion of the inspection process..

The USFDA conducted a pre-market inspection of the Pashamylaram facility from August 23 to 26, 2023, with the aim of evaluating the facility's adherence to the Quality System/Current Good Manufacturing Practice (CGMP) regulations for medical devices set by the USFDA..

In the July-September quarter of the fiscal year 2023-24, the company experienced a 19.56% year-on-year decline in its consolidated net profit, amounting to 194 crore, compared to 241.2 crore recorded in the same period a year earlier..

The company revealed last week that it secured provisional approval from the US Food and Drug Administration (USFDA) for the Angiotensin II Injection, 2.5 mg/mL Single Dose Vial..

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