Shares of Torrent Pharmaceuticals Ltd surged 4% on Friday 30 August, reaching a fresh high of Rs 3,574 on the NSE. This was following the US drug regulator’s issuance of an Establishment Inspection Report (EIR) for the company’s manufacturing plant located in Indrad, Gujarat.

The United States Food and Drug Administration (USFDA) conducted a pre-approval Inspection and a GMP inspection at the company’s manufacturing facility in Indrad, Gujarat, between 3 June and 12 June. The US regulator concluded the inspection by issuing Form 483 with 5 observations. 

The company in it filing said that they USFDA issued an EIR with Voluntary Action Indicated (VAI) classification for its manufacturing facility and the inspection has now been successfully closed by the US regulator. 

VAI stands for unpleasant conditions or practices found; however, at this point, the government is not recommending or implementing any administrative or regulatory action.

Torrent Pharma is ranked sixth in the Indian pharmaceutical industry (IPM). In FY23, it was placed sixth. Within the top five significant therapeutic areas are vitamins, minerals, and nutrients (VMN), cardiovascular (CVS), gastrointestinal (GI), and the central nervous system (CNS).

At 3:30 pm, the shears of Torrent Pharma closed 1.89% higher at Rs 3,499.50 on NSE.

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