SMS Lifesciences shares zooms 20% after USFDA issues zero observation for Telangana unit

"The United States Food and Drug Administration (USFDA) has completed the inspection at SMS Lifesciences India's API manufacturing facility located at Sy. NO. 180/2 Kazipally, Jinnaram Mandal, Sangareddy district, Telangana (Unit I), without any observations," the company said in its release.

SMS Lifesciences India share price zoomed 20 percent intraday on April 11 after the company received zero observations from the US drug regulator.

The share touched a 52-week high of Rs 1,022.50 and a 52-week low of Rs 526.95 on 28 October, 2021 and 15 April, 2021, respectively. The inspection commenced on April 4 and concluded on April 8, it said.