Shares of Natco Pharma ended the session down by nearly 5 per cent today, after the company received 483 observations from the USFDA after inspection of its two facilities.
The company stock ended the session down by 4.09 per cent at Rs 392.55 on the BSE.
On the NSE, the stock ended down by 3.5 per cent at Rs 393.90.
Earlier, the scrip dipped 4.71 per cent to Rs 390 on the BSE. On the NSE, shares of the company fell by 4.45 per cent to Rs 390.
In the previous session also, the stock had plummeted by 13 per cent.
An inspection was conducted by the US Food and Drug Administration (USFDA) at two of its facilities recently — the Active Pharmaceutical Ingredients (API) manufacturing facility at Manali, near Chennai, and the Pharmaceutical Formulations facility at Kothur, near Hyderabad, in early February and March, respectively, Natco had said in a statement on Sunday.
“The company has received 483 observations for both facilities and believes them to be of minor in nature,” it had said.
Natco has already sent a response and compliance report for these observations and believes that there would be no adverse impact to its current or future pipeline products coming from these facilities, it added.