Cadila Healthcare plunges 17% on USFDA warning letter
Shares of Cadila Healthcare plunged 17 per cent on Thursday after the pharmaceutical company received two warning letters Moraiya formulation facility and Ahmedabad API facility (Zyfine) from US drug regulator.
By ET Online | Updated:
NEW DELHI: Shares of Cadila Healthcare plunged 17 per cent on Thursday after the pharmaceutical company received two warning letters Moraiya formulation facility and Ahmedabad API facility (Zyfine) from US drug regulator.
Reacting to the development, the scrip slumped 17 per cent to hit a low of Rs 320.45 on the BSE.
"We take quality and compliance matters very seriously and stand by our commitment to fully comply with cGMP quality standards across all our facilities," the company said in a filing to the bourses.
"We hereby clarify that there are no products in the US market which use API of Zyfine facility," it clarified.
Reacting to the development, the scrip slumped 17 per cent to hit a low of Rs 320.45 on the BSE.
"We take quality and compliance matters very seriously and stand by our commitment to fully comply with cGMP quality standards across all our facilities," the company said in a filing to the bourses.
"We hereby clarify that there are no products in the US market which use API of Zyfine facility," it clarified.
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