Aurobindo Pharma plunges 8% on USFDA warning
Synopsis
This action follows the earlier inspection of the site by the USFDA in February 2019.
By ETMarkets.com
Last Updated:
NEW DELHI: Shares of Aurobindo Pharma plunged nearly 8 per cent to Rs 578.75 in morning trade on Friday after it said it received a warning letter from the USFDA.
This action follows the earlier inspection of the site by the USFDA in February 2019.
The company said that its existing business from this facility will not be impacted and it will be engaging with the regulator and are fully committed to resolving this issue at the earliest.
"We are also committed to maintaining the highest quality manufacturing standards at all of its facilities across the globe," it added.
Shares of Aurobindo Pharma closed 3.92 per cent down at Rs 602.35 on BSE.
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"The company has received a warning letter dated June 20, 2019, from USFDA relating to our Unit XI, API manufacturing facility situated at Srikakulam district in Andhra Pradesh," said the company in a BSE filing. This action follows the earlier inspection of the site by the USFDA in February 2019.
The company said that its existing business from this facility will not be impacted and it will be engaging with the regulator and are fully committed to resolving this issue at the earliest.
"We are also committed to maintaining the highest quality manufacturing standards at all of its facilities across the globe," it added.
Shares of Aurobindo Pharma closed 3.92 per cent down at Rs 602.35 on BSE.
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