Jubilant Life slips 4% on USFDA inspection
This will not have any impact on the existing revenues from operations from this facility, the company said.
By ETMarkets.com | Updated:
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Shares of Jubilant Life Sciences slipped 4 per cent on early Monday after US health regulator recommended regulatory or administrative action after inspection of its Roorkee manufacturing facility.
The FDA has classified the inspection as 'Official Action Indicated', which means approvals of pending applications or supplements from this site maybe withheld, the company said in a regulatory filing.
In response to the USFDA inspection at the Roorkee facility of solid dosage formulations during August 2018, "the agency has informed to classify the inspection as OAI and that approvals of pending applications or supplements from this site maybe withheld", Jubilant Life said.
However, this will not have any impact on the existing revenues from operations from this facility, it clarified.
The scrip closed 7.13 per cent down at Rs 734.15 while the benchmark BSE Sensex plunged 2 per cent to 34,959.72. It opened at Rs 769.50 on the BSE against its previous closing of Rs 790.50.
The FDA has classified the inspection as 'Official Action Indicated', which means approvals of pending applications or supplements from this site maybe withheld, the company said in a regulatory filing.
In response to the USFDA inspection at the Roorkee facility of solid dosage formulations during August 2018, "the agency has informed to classify the inspection as OAI and that approvals of pending applications or supplements from this site maybe withheld", Jubilant Life said.
However, this will not have any impact on the existing revenues from operations from this facility, it clarified.
The scrip closed 7.13 per cent down at Rs 734.15 while the benchmark BSE Sensex plunged 2 per cent to 34,959.72. It opened at Rs 769.50 on the BSE against its previous closing of Rs 790.50.
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