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Divis stock jumps 6% on USFDA import alert relief

LiveMint logoLiveMint 10-04-2017 PTI

New Delhi: Shares of Divis Laboratories on Monday jumped nearly 6% after the US health regulator exempted some more products manufactured at the company’s Visakhapatnam facility from the import alert issued earlier.

The stock went up by 5.57% to end at Rs657.15 on BSE. During the day, it surged 5.9% to Rs659.20. On NSE, shares of the company soared 5.79% to close at Rs658.10.

In terms of volume, 6.53 lakh shares of the company were traded on BSE and over 57 lakh shares changed hands on NSE during the day.

“The United States Food and Drug Administration (USFDA) has exempted some more products manufactured at the company’s Unit-II at Visakhapatnam from the import alert issued under clauses 66-40 and 99-32 of the FDA regulations,” Divis Laboratories said in a filing to BSE on Saturday.

The regulator had earlier exempted 10 products, including Levetiracetam, Gabapentin, Lamotrigine, Capecitabine, Naproxen sodium and BOC core succinate, from the import alert.

Earlier on 22 March, Divis Lab had said the regulator had issued import alert for products made at one of its units at Visakhapatnam citing violation of manufacturing norms and refusal of inspection.

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