Dishman Pharmaceuticals & Chemicals, a manufacturer of active ingredients, witnessed a sharp rise in share price on Wednesday after the pharma major clarified of not receiving any warning from United States Food and Drug Administration (USFDA) regarding the Clovis issue.

The company said, 'Not received any USFDA warnings or any communication whatsoever due to Clovis issue.'

Shares of the company declined 14.08% on Tuesday to settle at Rs 325 on the reports that USFDA on Monday asked the company for more data on US firm Clovis Oncology lung cancer drug, Rociletinib. Traders thought Dishman was supplying active ingredient for Rociletinib.

Clarifying the rumours, the company further said, 'Recent news items appearing in the media are basically with related to Clovis Oncology only and it has not relevance with Dishman.'

'We are not privy to any information of our customers due to regulatory issue,' it added.

Shares of the company are trading at Rs 341.60, up Rs 16.6, or 5.11% at the Bombay Stock Exchange (BSE) on Wednesday at 11:01 a.m.

The scrip has touched an intra-day high of Rs 344.55 and low of Rs 327.00. The total volume of shares traded at the BSE is 542,868.

Total volume of shares traded on the bourses today was higher by 45.92% to 3,135,700 compared with 22-day average volume of 2,148,991.