USFDA inspection at Glenmark Pharma's Baddi, India Facility; Stock sheds 2%

23 Jun 2022 , 09:16 AM

Glenmark Pharmaceuticals Ltd has informed that U.S. FDA has issued Form 483 with six observations after an inspection at the Company’s formulation manufacturing facility based out of Baddi, India between June 13, 2022 and June 22, 2022.

As per the regulatory filing, the Company is committed to undertake all necessary steps required to address their observations at the earliest. The Company is committed to maintaining the highest quality manufacturing standards at all of its facilities across the globe, said Glenmark Pharma.

On Thursday early morning trade, Glenmark Pharmaceuticals was trading at Rs358.50 per share lower by 2.28% on the BSE.