Aurobindo Pharma down 5% on receiving USFDA observations
"The company will be responding to the USFDA within the stipulated time" said Aurobindo Pharma.
By ETMarkets.com | Updated:
Getty Images
NEW DELHI: Shares of Aurobindo Pharma declined nearly 5 per cent in Thursday's session after the company on Tuesday said it has received 10 observations from the US health regulator for its Unit 3 in Hyderabad.
The USFDA conducted an inspection at company's Unit III, a formulation manufacturing facility located at Bachupally, Hyderabad, from May 13 to May 24, 2019, and the company has received a Form 483 with 10 observations, it said in a BSE filing.
"The company will be responding to the USFDA within the stipulated time. The Form 483 will not have an impact on existing business of this facility," Aurobindo Pharma said, adding that none of the observations are repetitive and are more procedural in nature.
Shares of Aurobindo Pharma closed at Rs 624.30, down 4.56 per cent on BSE.
The USFDA conducted an inspection at company's Unit III, a formulation manufacturing facility located at Bachupally, Hyderabad, from May 13 to May 24, 2019, and the company has received a Form 483 with 10 observations, it said in a BSE filing.
"The company will be responding to the USFDA within the stipulated time. The Form 483 will not have an impact on existing business of this facility," Aurobindo Pharma said, adding that none of the observations are repetitive and are more procedural in nature.
Shares of Aurobindo Pharma closed at Rs 624.30, down 4.56 per cent on BSE.
Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
Bookmark or read stories offline -
Download ET Markets APP
Download ET Markets APP
Related Articles
Aurobindo Pharma share price up 2.14 per centADVERTISEMENT
