USFDA issues warning letter to goa unit of Glenmark Pharma; Stock slips 1.5%

24 Nov 2022 , 09:17 AM

Glenmark Pharmaceuticals Limited has informed to the exchanges regarding update on the USFDA inspection of Glenmark’s Goa manufacturing facility.

Earlier, the company informed that the Official Action Indicated (OAI) status of the Company’s Goa (India) manufacturing facility by US FDA following the inspection conducted in May 2022. Now, it is informed that the US FDA has now issued a warning letter to the Goa (India) facility

The Company does not believe that the warning letter will have an impact on disruption of supplies or the existing revenues from operations of this facility

The Company is committed to work along with the US FDA to implement all the necessary corrective actions required to address the concerns at the earliest.

The Company is committed to maintaining the highest quality and compliant manufacturing standards at all of its facilities across the globe, said Glenmark Pharma in a regulatory filing on Wednesday.

On Thursday, at around 9:16 AM, Glenmark Pharmaceuticals Ltd is currently trading at Rs418.65 per share down by Rs6.7 or 1.58% from its previous closing of Rs425.35 per share on the BSE.

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