Cadila Healthcare surges 20% as USFDA issues no observation for Moraiya facility

NEW DELHI: Shares of Cadila Healthcare soared 20 per cent in Thursday’s trade after the company informed BSE that no USFDA observations have been issued against the company’s Moraiya facility, which was inspected from February 6 to February 15.

“At the end of the inspection, no observation (483) is issued,” the company said in a brief filing to BSE.

Following the announcement, the stock jumped 19.95 per cent to Rs 429.45. At the prevailing price, the stock was trading at 56.32 times its trailing 12-month earnings per share.