FDC sinks 8% as USFDA tightens screws

NEW DELHI: Drugmaker FDC declined nearly 8 per cent on Tuesday after the USFDA made eight observations in an unannounced inspection of its ophthalmics product exports to the US.

The company though informed stock exchanges that it continues to export products to the market.

The stock fell 7.74 per cent to hit a low of Rs 232.30 on the BSE today morning.


The company also told stock exchanges that it had recently undergone PIC/S Malaysia inspection with respect to oral liquids and powders for the ROW markets on August 7-10 for its sterile ophthalmic manufacturing facility in Aurangabad.

During the inspection, there was also an unannounced inspection by the USFDA that started on August 8. Further, there was a civil unrest on August 9. However, the USFDA inspection continued from the next day and was completed on August 16.

The US health regulator has made eight observations for which a response is being lined up by the company.