After opening the day on a flat note, share markets in India witnessed volatile trading activity and are trading marginally below the dotted line. Sectoral indices are trading on a mixed note with stocks in the PSU sector and stocks in the oil and gas sector trading in green, while stocks in the IT sector are leading the losses.

The BSE Sensex is trading down by 101 points (down 0.3%), and the NSE Nifty is trading down by 23 points (down 0.2%). Meanwhile, the BSE Mid Cap index is trading up by 0.2%, while the BSE Small Cap index is trading up by 0.4% The rupee is trading at 64.55 to the US$.

In news from stocks in the pharma sector, Cadila Healthcare share price is in focus today after the Ahmedabad-based pharma major informed the stock exchanges that its manufacturing facility successfully cleared US Food and Drug Administration (USFDA) inspection.

The USFDA inspected the company’s topical manufacturing facility at Changodar, near Ahmedabad from April 3 to April 7, 2017. The company has filed 17 products with the USFDA from this facility

The company stated that no observation through form 483 was issued by the US regulator.

Form 483 relates to certain critical observations issued to a company at the end of an inspection if there were any violations of the Food Drug and Cosmetic Act and other related acts of the US Government.

Companies that receive its observations must respond in writing with a corrective action plan and implement it quickly. If the company does not meet the USFDA’s expectations, a warning letter may be issued.

Earlier, in February, the company’s Moraiya unit too did not receive any observations from the USFDA.

After opening the day up by over 1%, Cadila healthcare share price is trading down by 0.4%.

USFDA investigations and stringent regulatory procedures have cast a shadow over the Indian pharma sector. While Cadila Healthcare managed to breeze through the regulations, many Indian pharma giants haven’t been as lucky.

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