Unichem Laboratories gets US FDA approval for plant

Unichem Laboratories gained 1.81% to Rs 163.55 at 10:53 IST on BSE after the company said it has received approval from US Food and Drug for its plant situated at Ghaziabad in the state of Uttar Pradesh.

The stock hit a high of Rs 169.40 and a low of Rs 161 so far during the day. The stock had a 52-week high of Rs 265.90 on 26 June 2007 and a 52-week low of Rs 116.60 on 24 March 2008.

The company has an equity capital of Rs 18.02 crore. Face value per share is Rs 5.

The current price of Rs 163.55 discounts its Q4 March 2008 annualised EPS of Rs 20.91, by a PE multiple of 7.82.

On 16 June 2008, Unichem Laboratories received good manufacturing practice certificate from European Directorate for its active substances plant situated at Roha, Maharashtra.

On 11 June 2008, the company received final approval from US Food and Drug Administration (US FDA) for zaleplon capsules in 5 and 10-milligram strengths.

Unichem Laboratories’ net profit fell 6% to Rs 18.84 crore on 3.2% increase in net sales to Rs 138.34 crore in Q4 March 2008 over Q4 March 2007.

Unichem Laboratories engaged in manufacturing and marketing pharmaceutical formulations, bulk drugs and drug intermediates.