The shares of Aurobindo Pharma have hit a fresh 52 week low of ₹580.10 after dropping 3.81% on the bourses.
The United States Food and Drug Administration (US FDA) inspected its manufacturing facility at Jedcherla, Hyderabad from May 2 to 10 and issued a Form 483 with six observations. The pharma major said that It will respond to the US FDA within the stipulated timeline and work closely with the US FDA to close the observations.
Form 483 is issued to notify the management of the company about objectionable conditions observed by its officials that may constitute violations of the Food Drug and Cosmetic Act and related Acts.
Earlier this month, Aurobindo Pharma’s wholly-owned subsidiary, Eugia Pharma had received approval from the US health regulator to market the anti-cancer medication Bortezomib for injection. This product is a generic equivalent of Takeda Pharmaceuticals’ Velcade for injection.
The shares of the company were quoting at ₹ 600.00 levels at 11:30 am on Wednesday, lower by 0.65% on the NSE.
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