Palla Pharma (ASX:PAL) share price rockets 30% higher. Here’s why

The Palla Pharma Ltd (ASX: PAL) share price is among the top performers on the ASX market today. This comes after the company announced that it had received approval to change its manufacturing site to its Norway production facility.

During late afternoon trade, shares in the opiate-based pain relief medicine company are up 30.3% to 73 cents. It’s worth noting that the company’s shares rose to an intraday high of 82 cents in the first hour of market open.

Production facility change

The Palla Pharma share price is on the move after reporting a significant tailwind in its operations.

In today’s release, Palla Pharma advised that United Kingdom’s medicines regulator, MHRA, has given the green light to change the manufacturing…