New Delhi, Feb 16 (PTI) Shares of Cadila Healthcare today Also Read - Three Dead, 4 Injured in House Party Shooting in North Carolina

zoomed almost 20 per cent, adding Rs 7,309 crore to its market Also Read - 'Another Phase of Greatest Witch Hunt', Says Donald Trump After US Senate Acquits Him in Historic Impeachment Trial

valuation, after the company said the US health regulator has Also Read - US Court Seeks Status Report On Visas To Family Members Of H1-B Holders

inspected the firm’s Moraiya plant and found it meeting the

manufacturing norms.

Cheering the news, shares of the company skyrocketed 19.94

per cent to end at Rs 429.45 on BSE. During the day, the stock

advanced by 22.83 per cent to Rs 439.80 — its 52-week high.

On NSE, shares of the company soared 19.83 per cent to

close at Rs 429.50.

Led by the sharp surge in the stock, the company’s market

valuation rose by Rs 7,309.63 crore to Rs 43,964.63 crore.

On the volume front, 10 lakh shares of the company were

traded on BSE and over 87 lakh shares changed hands at NSE

during the day.

“Cadila Healthcare did not got any 483 issued in favour of

its Moriaya plant. This marks an important relief for the

company,” said Sarabjit Kour Nangra VP Research – Pharma,

Angel Broking.

“United States Food and Drug Administration (USFDA)

inspected company’s Moraiya facility from February 6, 2017 to

February 15, 2017. At the end of the inspection no observation

(483) is issued,” Cadila Healthcare said in a filing to BSE.

The FDA Form 483 notifies the company’s management of

objectionable conditions.

As per the US health regulator’s site “An FDA Form 483 is

issued to firm management at the conclusion of an inspection

when an investigator(s) has observed any conditions that in

their judgement may constitute violations of the Food Drug and

Cosmetic (FD&C) Act and related Acts”.

This is published unedited from the PTI feed.