Aarti Drugs shares rose 12% in fag end of trade today, here's why

Shares of Aarti Drugs zoomed over 12% in the fag end of trade on Friday after the pharma firm said US FDA has removed it from import alert 66-40.This implies that the pharma major can export its products into the US market. Aarti Drugs shares zoomed 12.58% to Rs 431.50 against the previous close of Rs 383.25 on BSE. Market cap of the firm climbed to Rs 3,749.83 crore. Later, Aarti Drugs shares ended 7.20% higher at Rs 410.85. 

"We bring to your notice that the Company is in receipt of the letter from the US FDA informing that Aarti Drugs Limited is no longer subject to refusal of admission and has been removed from Import Alert 66-40," said Aarti Drugs. 

"There are no financial or material impacts as on date. US FDA has lifted the Import Alert 66-40. Due to this, the company can export the products such as Ciprofloxacin HCl API, Zolpidem Tartrate API, Raloxifene HCl API, Celecoxib API and Niacin API in US Market," said the firm.

Giving out the details of the removal of the import alert,  Aarti Drugs said USFDA has reviewed the form FDA 483 and establishment inspection report (EIR) and company’s response to the Form FDA 483 pertaining to the inspection conducted at API manufacturing facility of the Company located at Plot No. E-22, MIDC, Tarapur, Maharashtra from September 12 to September 20, 2024. 

The US agency concluded that Aarti Drugs Limited is no longer subject to refusal of admission and has been removed from Import Alert 66-40.