IANS | 01 Feb, 2024
Aurobindo Pharma shares fell more than 6 per cent on Thursday amid an inspection by the US Food and Drug Administration (FDA).
Aurobindo Pharma shares were down 6.6 per cent at Rs 1,074 on the BSE. The company has a market cap of Rs 62,950 crore.
Aurobindo
Pharma said the US FDA inspection of Eugia-III (erstwhile unit IV of
Aurobindo Pharma Limited), a formulation manufacturing facility, of
Eugia Pharma Specialities Ltd. is under progress from January 22, and
has not been concluded yet.
As per the usual and standard
practice, after the inspection is concluded, Aurobindo Pharma intimates
the stock exchanges regarding the outcome, including the number of
observations, if any, and the same will be followed for the ongoing
inspection also, it said.
The company has been diligently
disclosing all the material information as per Regulation 30 of the
Securities and Exchange Board of India (Listing Obligation and
Disclosure Requirement) Regulation 2015, and confirms to disclose any
material information required to be disclosed as and when it is
required, it said.
The US FDA had conducted an inspection at the
Unit VI-B, a formulation manufacturing facility of the company, situated
at Chitkul Village, Sangareddy district, Telangana, from September 22
to September 29, 2023. The unit has now received Establishment
Inspection Report classifying the facility as 'Voluntary Action
Indicated' (VAI).
