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Shares of SMS Lifesciences India soared 20 percent and were locked in an upper circuit at Rs 947.75 as the company has completed the US Food and Drug Administration (US FDA) inspection at a unit without any observations.

The stock has been gaining for the last three days and has risen around 22 percent during the period.

The stock opened with a gain of 5 percent today.

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“We are glad to inform you that the Company has completed the United States Food and Drug Administration (USFDA) inspection at its API's manufacturing facility located at Sy. No. 180/2 Kazipally, Jinnaram Mandal, Sangareddy district, Telangana (Unit I), without any observations,” the company said in an exchange filing.

The inspection commenced on April 4, 2022, and concluded on April 8, 2022.

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SMS Lifesciences is a global player in APIs Intermediates manufacturing having strong research and a manufacturing team supported by state of the art facilities.

The company has three multi-product facilities in operation and a research centre. It has executed contract manufacturing and research assignments for a global customer base.

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First Published:Apr 11, 2022 11:30 AM IST