Shares of Unichem Labs surged by over 4%, reaching a day’s high of Rs 675 on 23rd September, after the company announced that its board would meet on 30th September to consider integrating and consolidating all USA generic formulations businesses under a single entity.

The company announced that its board will meet on 30th September to consider integrating and consolidating the US generics formulations business of Bayshore Pharmaceuticals LLC into Unichem Pharmaceuticals (USA) Inc.

The company also informed the stock exchanges that the trading window for designated persons, directors, insiders, and their immediate relatives will be closed from 23rd September.

They also announced that its trading window will remain closed from 1st October until 48 hours after the financial results for the quarter and half year ending on 30th September, 2024, are declared.

Earlier this month, Unichem Laboratories stated that the USFDA classified its inspection at the Goa formulation facility as voluntary action indicated (VAI). The inspection, conducted from 8th July to 15th July 2024, resulted in five procedural observations, none related to data integrity.

So far in 2024, the stock has surged by almost 55%. The company’s market capitalisation stands around Rs 4,484 crore.

At 3:08 PM, the shares of Unichem Labs were trading 1.43% lower at Rs 636.90 on NSE.

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