Comments
Aurobindo Pharma declined sharply on the stock exchanges today after the US drug regulator issued a 'Form 483' with 14 observations to the company's facility in Hyderabad.
Aurobindo shares slumped 8.86% to Rs 394.40 on the BSE today. Volumes jumped nearly two-fold to 4.52 lakh shares as compared to average volume of 2.61 lakh shares for the last two-week period.
The company in its filing to the BSE stated: "Pursuant to Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, this is to inform you that the United States Food and Drug Administration (US FDA) inspected Company's Unit IV, a general injectable formulation manufacturing facility situated at Pashamylaram, Hyderabad, from 4th to 13th November 2019."
It further added: "At the end of the inspection, we have been issued a 'Form 483' with 14 observations. We believe that none of these observations are related to data integrity issues. The Company will respond to the US FDA within the stipulated timeline."
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.