Shilpa Medicare shares jump nearly 5% after USFDA issues EIR with VAI for Bengaluru unit
Shares of Shilpa Medicare Ltd surged nearly 5% on Wednesday, July 16, trading at ₹934.95 on NSE at 10:09 AM — up ₹42.45 from the previous close of ₹892.50 — after the company announced that its Bengaluru facility received an Establishment Inspection Report (EIR) with VAI (Voluntary Action Indicated) classification from the US Food and Drug Administration (USFDA).
The stock touched a day's high of ₹937.00 and a low of ₹887.00, within its 52-week range of ₹555.00–₹1,000.00. At this level, the company's market capitalization stood at around ₹91.38 billion, with a P/E ratio of 116.29 and average daily trading volume of about 181,900 shares. USFDA inspection update
On July 16, Shilpa Medicare informed exchanges that its Unit VI at Dabaspet, Bengaluru received an EIR from the USFDA, marking the closure of the GMP inspection conducted between October 24–30, 2024, with a VAI classification.
The unit manufactures, packages, tests, stores, and distributes Oral Dissolving Films and Transdermal Systems, with approvals already in place from EMA (Europe), MHRA (UK), SFDA (Saudi Arabia), and TGA (Australia). It is currently supplying oral film products to the US and other markets, and transdermal products have been filed for approval in Europe. About the company
Shilpa Medicare is a specialty pharmaceutical company focused on complex generics, advanced drug delivery systems, and oncology formulations. The positive USFDA outcome boosts investor confidence in its regulatory compliance and growth potential in regulated markets.
Investor sentiment turned upbeat today as the inspection outcome reinforced Shilpa's standing as a trusted supplier to global markets, driving the stock to the top gainer list on NSE.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. The author or Business Upturn is not liable for any losses arising from the use of this information.
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Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
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