Alembic Pharma’s JV receives 2 observations for Gujarat facility

The inspection was carried out from February 4 to February 8, 2019.

Feb 12, 2019 03:02 IST India Infoline News Service

Alembic Pharmaceuticals
Alembic Pharma in its filing to the exchanges informed that Aleor Dermaceuticals (Aleor), a 60:40 Joint Venture between Alembic Pharmaceuticals Ltd. (Alembic) and Orbicular Pharmaceutical Technologies Pvt. Ltd has received two observation from the United States Food and Drug Administration (USFDA).

Observations have been issued by USFDA after completion of an inspection at the company’s formulation manufacturing facility located at Karakhadi, Gujarat, India, the company said in a press note after market hours to the exchanges on Monday.

The inspection was carried out from February 4 to February 8, 2019, the company added.

Alembic Pharmaceuticals Ltd's share price ended at Rs556.80, down by Rs9.9 or 1.75%, from its previous close of Rs566.70 on the BSE.
The scrip opened at Rs564 and touched a high and low of Rs575.90 and Rs555, respectively. A total of, 40,202 (NSE+BSE) shares have traded on the counter. The current market cap of the company is Rs10,495.68cr.

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