Granules India rose almost 10% today to Rs.106.30 and remains among the top five gainers on the BSE.
There is good news from the company. Two news. First, yesterday after market hours it announced that US FDA has issued Establishment Inspection Report (EIR) for Company’s Jeedimetla facility located at Hyderabad, Telangana, India.
This facility was inspected by US FDA in March 2018 and there was one (1) 483 observation during the inspection. The company had responded to the observation within the stipulated timeframe. Jeedimetla facility manufactures Active pharmaceutical ingredients (APIs) and Pharmaceutical Formulation Intermediates (PFIs).
The second news came in today morning. US FDA has approved its Abbreviated New Drug Applications (ANDA) for Methylergonovine 0.2 mg Tablets. The ANDA was filed by Granules Pharmaceuticals Inc., a wholly owned subsidiary of Granules India Limited.
Methylergonovine is used for the prevention and control of postpartum haemorrhage.