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