Hikal Announces US FDA Audit with Zero Observations

Hikal announced that the company’s pharmaceutical manufacturing facility located at Panoli, Gujarat, was recently inspected by the U.S. Food and Drug Administration (US FDA) in compliance with their requirements. The five-day detailed pre approval inspection of an API during the period May 8th to 12th, 2023 was concluded with ‘Zero 483 observations’ from the US FDA Agency.

The Managing Director of the company stated that, the company will continue to maintain

an excellent track record with global regulatory agencies. This latest audit re-emphasizes the company’s commitment towards maintaining the best-in-class quality, compliance and regulatory standards across our manufacturing sites. 

Hikal is a reliable long-term partner to companies in the Pharmaceuticals, Crop Protection and Specialty Chemicals industry. The company is in the business of supplying research services, active ingredients and intermediates, manufactured using stringent global quality standards, for its global customers. Hikal’s advanced manufacturing facilities have been inspected and approved by leading multinational companies in the Crop protection and pharmaceutical sectors. The Crop protection facilities are located at Taloja, Mahad (Maharashtra) and Panoli (Gujarat). Hikal’s R&T facilities are located at Pune.

Today, the Hikal stock opened at Rs 295.95, with a high and low of Rs 310.65 and Rs 291.40, respectively. The stock previously closed at Rs 296.75. The stock closed trading at Rs 296.60, down by 0.05 %.

The stock has a 52-week high of Rs 427.95 and a 52-week low of Rs 215.65. The company has a ROCE of 15.2% and an ROE of 16.00% with a market capitalisation of Rs 3,672 crore.