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Torrent Pharma shares jump despite USFDA's Form 483 for Gujarat facility

Torrent Pharma shares jump despite USFDA's Form 483 for Gujarat facility

Torrent Pharma shares jump despite USFDA's Form 483 for Gujarat facility
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By Asmita Pant  Sept 29, 2022 2:07:27 PM IST (Published)

The shares of the pharma company were two percent up at Rs 1,525.6 on BSE at 11:35 am. 

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The shares of Torrent Pharmaceuticals Ltd jumped 3.3 percent on September 29 after the US Food and Drug Administration issued a 'Form 483' with 3 observations for the company's manufacturing facility at Indrad, Gujarat. The company has, however, clarified that none of these observations were related to data integrity. 
The shares of the pharma company were two percent up at Rs 1,525.6 on BSE at 11:35 am.
The USFDA had inspected the company's facility at Indrad, Gujarat from September 19 to September 28. "We will respond to the USFDA within stipulated timeline and work closely with USFDA to address the observations at the earliest," the Ahmedabad-based company said in an exchange filing.
Earlier, Torrent Pharma had announced on September 27 that it will enhance its presence in the dermatology segment with the acquisition of Curatio Healthcare for Rs 2,000 crore. "The acquisition offers Torrent the opportunity to enhance its presence in dermatology with a differentiated portfolio and is a strong strategic fit," the company said in an exchange filing.
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