Aurobindo Pharma drags Nifty Pharma index 2%

Shares of Aurobindo Pharma dropped 5% after the company received a warning letter dated June 20, 2019, from USFDA relating to the company's Unit XI, API manufacturing facility in Andhra Pradesh.

Jun 21, 2019 07:06 IST India Infoline News Service

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The Nifty Pharma index declined 2% on Friday led by heavy selling in Aurobindo Pharma along with Cadila Healthcare, Glenmark, and Divis Lab.

Shares of Aurobindo Pharma dropped 5% after the company received a warning letter dated June 20, 2019, from USFDA relating to the company's Unit XI, API manufacturing facility situated at Sy.No.61-66, IDA, Pydibhimavaram, Ranasthalam (Mandai), Srikakulam District, Andhra Pradesh. This action follows the earlier inspection of the site by the USFDA in February 2019, the company said in a press note released today.

Shares of Cadila Healthcare and Glenmark also contributed to the fall, declining 3%, each. Shares of Divis Lab and Sun Pharma dropped 2% each, while those of Dr. Reddy’s, Biocon, and Lupin fell 1% each.

Meanwhile, equity benchmark indices were trading in the red on Friday with the Sensex declining 233 points at 39,368 levels. The Nifty dropped 60 points at 11,772 levels. 

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