Aurobindo Pharma drops 6% after receiving warning letter from USFDA

This action follows the earlier inspection of the site by the USFDA in February 2019.

Jun 21, 2019 04:06 IST India Infoline News Service

Aurobindo Pharma
Shares of Aurobindo Pharma were trading 6% down on Friday 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.

" We believe the existing business from this facility will not be impacted. We will be engaging with the regulator and are fully committed to resolving this issue at the earliest. The Company is also committed to maintaining the highest quality manufacturing standards at all of its facilities across the globe," the company added in a press note.

Aurobindo Pharma Ltd is currently trading at Rs593.85, down by Rs33.05 or 5.27%, from its previous close of Rs626.90 on the BSE.
The scrip opened at Rs627 and has touched a high and low of Rs627 and Rs578.75, respectively. So far, 34,84,005 (NSE+BSE) shares have traded on the counter. The current market cap of the company is Rs36,731.05cr.

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