Aurobindo Pharma stock dips over 4% after Hyderabad-based unit 1 receives USFDA warning letter for OAI classification

14 Jan 2022 , 12:22 PM

Aurobindo Pharma has received a warning letter from the USFDA for the OAI classification of the company’s Unit I, an API manufacturing facility in Hyderabad.

In its regulatory filing today, Aurobindo said that this action follows the recent inspection of the Unit by the USFDA in August 2021. The Company believes that this will not impact the existing business from this facility.

Aurobindo said it will be engaging with the regulator and is 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.

At around 12.18 pm, Aurobindo was trading at Rs688.35 per piece down by Rs29.55 or 4.12% on Sensex.

The stock has touched an intraday high and low of Rs705 per piece and Rs684.50 per piece respectively.