Bajaj Healthcare shares rallied 8% during the early trading hours on 14 September after the company received an Establishment Inspection Report (EIR) from the USFDA (United States Food and Drug Administration) for its plant in Savli, Vadodara, Gujarat.

The pre-approval inspection for the plant was conducted in November 2022 by the USFDA.

The company’s Savli plant manufactures API (active pharmaceutical ingredients), and the EIR received signifies the successful completion of the inspection.

Anil Jain, Joint Managing Director, Bajaj Healthcare, said, “The receipt of the EIR also opens up the opportunities for filing companies own Drug Master Files with the USFDA as well as CDMO opportunities that company is eying with various customers across the globe.”

In its quarterly report for the April-June quarter, the company reported a 51% YoY decrease in its net profit to Rs 7.0 crore from the Rs 14.35 crore reported in the year-ago quarter.

At 11:39 am, the shares of Bajaj Healthcare were trading at Rs 422.35 or 2.41% above its previous close on NSE.