Market

Aurobindo Pharma down 5% on USFDA warning letter for Hyderabad unit

Shares of Aurobindo Pharma slipped 5 per cent to Rs 684.50 on the BSE in Friday’s intra-day commerce after the company mentioned the has obtained a warning letter from the US Food and Drug Administration (USFDA) for its Unit I, an energetic pharmaceutical ingredient (API) manufacturing facility in Hyderabad.

At 12:30 pm; the stock traded 4 per cent decrease at Rs 690, as in comparison with 0.40 per cent decline on the S&P BSE Sensex. The stock had hit a 52-week low of Rs 620.55 on November 11, 2021. The buying and selling quantity on the counter jumped over four-fold with a mixed 4.13 million shares altering arms on the NSE and BSE.

On November 10, 2021, Aurobindo Pharma had mentioned that the company obtained a communication from the USFDA classifying the inspection performed at its Unit I (API) manufacturing facility in Hyderabad, India between August 2 to August 12, 2021 as Official Action Indicated (OAI), holding the standing unchanged.

This motion follows the current inspection of the Unit by the USFDA in August 2021. The company believes that this won’t impression the prevailing business from this facility, Aurobindo Pharma mentioned in a change submitting as we speak.

The company additional mentioned that will probably be partaking with the regulator and is absolutely dedicated in resolving this concern on the earliest. The company can be dedicated to sustaining the best high quality manufacturing requirements in any respect of its services throughout the globe, it mentioned.

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