India's Ipca Labs up after US FDA clears Piparia facility

Ipca Laboratories

24/08/2023 07:05

** Shares of Ipca Laboratories  IPCA.NS  rise 4.8% to 918.75
rupees
    ** Stock on track for highest intraday pct rise since July
27
    ** Pharmaceutical firm says U.S. FDA issued "voluntary
action indicated" (VAI) for its Piparia facility
    ** Under VAI classification, while FDA found objectionable
conditions or practices, it does not recommend any
administrative or regulatory action 
    ** Facility considered to be in "minimally acceptable state
of compliance" to current good manufacturing practice, co adds
    ** Stock last up 2%, taking YTD gains to 6%

 (Reporting by Aleef Jahan in Bengaluru)
 ((aleefjahan.cs@thomsonreuters.com))