Divi's Labs improves health

Divi’s Labs today rose 6.5% to Rs.919.50 and continues to remain firmly in the green. Its 52-week high and low stands at Rs.1355.45 and Rs.533.10 respectively.

There was good news from the company and that too from US FDA.

The company stated that its Unit-2 has been inspected by US-FDA from September 11 to September 19, 2017.

This inspection was for full cGMP and verification of all Corrective Actions proposed against the previous Inspection observations. Divi's announced that all previous observations have been confirmed as completed and resolved. 

On completion of this inspection, Divi's Labs has received a Form 483 citing six observations which are procedural and the company will be responding to these within the stipulated time.

If one may recollect, the FDA had issued an import alert in March, followed by a warning letter in May for Unit II.