Bajaj Healthcare surges 8% as Vadodara plant gets EIR from US FDA

Shares of Bajaj Healthcare rose over 8% in early trade on September 14 after the company received an Establishment Inspection Report (EIR) from the US Food and Drug Administration (FDA) for the manufacturer. Their factory is in Savli, Vadodara, Gujarat. At 9:27 am, the company’s shares were trading at Rs 430, up 4.3 per cent on NSE.
The factory’s pre-approval inspection (PAI) was conducted by USFDA in November 2022. The company received no observations of 483 during the inspection.
According to the company, the Savli plant is an API (Active Pharmaceutical Ingredients) manufacturing plant. Receipt of an Establishment Inspection Report (EIR) means the inspection was successfully completed.
“Receiving the EIR also opens up the possibility for companies to submit their own drug master filings to the USFDA, as well as CDMO opportunities that the company is currently pursuing,” said Anil Jain, Vice President of Operations, Bajaj Healthcare. review with many different customers around the world. in a press release.
Bajaj Healthcare reported a net profit of Rs 7.03 crore in the June quarter of the current financial year, reflecting a decline of 51 per cent compared to Rs 14.35 crore recorded in the same period of FY23.