Hot Pursuit     03-Nov-23
Marksans Pharma rises after subsidiary receives EIR from US FDA
Marksans Pharma added 3.98% to Rs 113.75 after the company announced that its wholly owned subsidiary Time-Cap Laboratories, Inc. has received establishment inspection report (EIR) from the US FDA.

The said EIR has been issued in relation to the US Food & Drugs Administration (US FDA) audit that was conducted in the month of October 2023.

"No 483' s were issued during the audit,” Marksans Pharma said in a statement.

Marksans Pharma is primarily engaged in the business of research, manufacture, marketing and sale of pharmaceutical formulations.

On consolidated basis, the company's net profit jumped 15% to Rs 68.66 crore during the quarter as compared with Rs 59.72 crore posted in corresponding quarter last year. Net sales increased 15.3% year on year to Rs 500.03 crore in Q1 FY24 over Q1 FY23.

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