USFDA removes Jubilant Generics' three products from Excepted products list; Stock dips 2%

15 Jul 2022 , 12:58 PM

Jubilant Pharmova Limited’s stock dipped nearly 2% during Friday’s trading session as its wholly owned subsidiary Jubilant Pharma Limited, has announced that its subsidiary Jubilant Generics Limited (JGL) received a communication from the USFDA through which the latter intimated that it has decided to remove olanzapine orally disintegrating tablets, spironolactone tablets, and valsartan tablets from the list of excepted products from the Import Alert at the Roorkee facility of JGL.

As per the filing, the USFDA mentioned its review of the product supply situation in the market and company’s compliance status as the reasons for this decision. The current revenue from these three products is less than 1% of the consolidated revenues of the Company.

Post this, currently only Risperidone orally disintegrating tablets are allowed for import into the US from the Roorkee facility, the company said on Thursday.

On Friday at around 12:58 PM, Jubilant Pharmova was trading at Rs361.85 per share lower by 1.75% on the BSE.