US FDA Classifies Ipca Lab's Silvassa Unit As Voluntary Action

USFDA has classified Ipca Laboratories Limited's Piparia, Silvassa formulations manufacturing facility as Voluntary Action Induced, the company announced through an exchange filing.

This was after the US FDA's inspection at the manufacturing facility from April 18 to April 26, 2023 that resulted in 3 observations under US FDA Form 483.

Additionally, the regulator has also said that the facility is considered to be in a minimally acceptable state of compliance with regards to the current good manufacturing practice.

Ipca Labs acquires shares in Unichem

Ipca Laboratories earlier this month acquired 2,35,01,440 shares comprising 33.38 per cent of Unichem Laboratories from one of Unichem's promoters. The company bought the shares at a price of ₹402.23 per share aggregating to ₹945.35 crore.

This acquisition is as per the Share Purchase Agreement signed and Public Announcement made on April 24, 2023 and the acquisition of the shares is completed today under block deal mechanism of The National Stock Exchange of India Ltd. (NSE).

Ipca Lab shares

The shares of Ipca Laboratories on Thursday morning at 10:14 am IST were trading at Rs 909.80, up by 3.73 per cent.