Torrent Pharma’s stock surged to a 52-week high of Rs 2,745.55 in early trading on March 6 following a favorable inspection by the US FDA.
By 09:38 am, the company’s shares were trading at Rs 2,700.00 on the BSE, marking an increase of Rs 37.80 or 1.42 percent.
The USFDA has issued an establishment inspection report (EIR) for Torrent Pharmaceuticals’ manufacturing facility in Gujarat, indicating the successful conclusion of the inspection by the regulator.
During the period from December 5 to December 11, 2023, the USFDA conducted a pre-approval inspection (PAI) at the company’s oral-oncology manufacturing facility in Bileshwarpura, Gujarat. Torrent Pharma reported a significant 56.5 percent increase in net profit to Rs 443 crore for the quarter ended December 2023.
Over the past year, the company’s stock has gained 80 percent.
