Jubilant Life jumps after USFDA nod for Canada plant - The New Indian Express

Jubilant Life jumps after USFDA nod for Canada plant

Published: 28th February 2014 01:19 PM

Last Updated: 28th February 2014 01:19 PM

Jubilant Life Sciences, an integrated pharmaceuticals and life sciences company, jumped on Friday after it received a communication from the U.S. Food and Drug Administration (FDA), classifying its pharmaceutical manufacturing facility at Montreal, Canada as 'Acceptable'.

This resolves all issues raised by the FDA on the facility in February 2013 and subsequent communications. The development follows completion of FDA's review of the company's responses post the February letter and the subsequent re-inspection conducted at Jubilant's Montreal facility in September, 2013. This development successfully resolves the FDA issues at our Montreal facility.Shares ofthe companyare trading at Rs 123.15, up Rs 6.6, or 5.66% at the Bombay Stock Exchange (BSE) on Friday at 12:30 p.m.The scrip has touched an intra-day high of Rs 126 and low of Rs 121.50. The total volume of shares traded at the BSE is 105,541.In the earlier session, the shares gained 0.17%, or Rs 0.2, at Rs 116.55. Currently, the stock is trading down 35.18% from its 52-week high of Rs 190 and above 89.17% over the 52-week low of Rs 65.10.

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