Vivimed Labs soars on Nil observation from USFDA

Vivimed Labs gained as USFDA has given zero 483 observations after inspecting the company's API manufacturing facility in Sant Celoni, Spain.

The company shares surged as much as 6.7 per cent, its biggest intraday percentage gain in over a week.

The stock has jumped about 17 per cent this year, as of Tuesday's close.

Vivimed Laboratories had yesterday said the US health regulator had recently inspected the drug maker’s manufacturing plant in Spain and has not issued any observations.

In a notice to the exchanges, the drug firm said its active pharmaceutical ingredient manufacturing facility at Sant Celoni, Spain, was recently inspected by the USFDA. At the end of the successful inspection, ‘zero’ 483 observations were issued, it added.