India's Gland Pharma gains as USFDA inspection at facility ends

Gland Pharma

24/05/2024 08:43

** Shares of Gland Pharma  GLAD.NS  rise as much as 2.5%
before trimming some gains; last up 1.2% at 1,903 rupees
    ** Generic injectables maker said the U.S. FDA completed
inspection at co's Visakhapatnam facility with zero 483
observations
    ** Stock was down ~1% before the announcement 
    ** GLAD is second-biggest gainer on the Nifty pharma index
 .NIPHARM  - down 0.1% 
    ** Analysts' avg rating on stock is "Hold", in line with
rival Dr. Reddy's  REDY.NS  while Cipla  CIPL.NS  is rated "Buy"
- LSEG
    ** Median PT on GLAD is 1,872.5 rupees 
    ** Including session's gains, GLAD is up ~20% YTD vs 14%
surge in NIPHARM


 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))