Companies

USDFA issues import alert on two Aarti Drugs' plants

PTI New Delhi | Updated on January 24, 2018 Published on March 24, 2015

Aarti Drugs today said its two manufacturing facilities have received import alert from the US health regulator, a development which could impact the company’s exports to the American market.

“Two of the Aarti Drugs facilities in Tarapur have received an import alert dated March 23, 2015 as per the US Food and Drug Administration (USFDA) website,” the drug firm said in a filing to the BSE.

The company, however, added that only one of the two plants is a USFDA compliant facility.

“Second one, we had already de-listed from the USFDA website couple of years back,” it added.

The company said for the E-22 facility, it had a re-inspection in August 2014 and post that, the company submitted four responses starting August 14 and the last response in Feb 15.

“We still have to receive an official communication from USFDA on the import alert after which we can take immediate actions to rectify the same,” it added.

The drug firm said the import alert would not impact the company much as US sales contribute less than 1 per cent of the company’s total sales volume.

“For the current financial year 2014-15, the total US sales contribute to slightly less than 1 per cent of the total sales volume. Hence this shouldn’t affect our top-line and bottomline significantly,” it added.

Shares of the company opened on a bearish note at Rs 624 then touched an intra-day low of Rs 558.95 on the NSE.

Published on March 24, 2015
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