Shares of Laurus Labs Ltd rose 2% on 23 January despite the USFDA issuing one observation regarding the company’s overseas subsidiary.

The US Food and Drug Administration (USFDA) examined Laurus Generics Inc. (LGI), a wholly-owned foreign subsidiary of the company based in New Jersey, USA, for post-marketing adverse drug experience (PADE).

The inspection included a detailed analysis of the procedures and policies for reporting adverse events concerning Laurus Labs’ internationally marketed products.

The examination was conducted between 13 January and 21 January 2025, and a Form 483 with one observation was issued upon the completion of the inspection. 

The company will address the aforementioned observation within the given time frame.

The board of directors will meet on Friday, 24 January 2024, to evaluate and approve the company’s unaudited financial results for the quarter and nine months ended 31 December 2024.

At 12:07 pm, the shares of Laurus Labs were trading 2.05% higher at Rs 582.55 on NSE.

Discover the next big investment! Unicorn Signals’ IPO screener helps you identify promising initial public offerings. Download Unicorn Signals and get ahead of the curve! Sign Up Now & Find Your Next IPO Gem!