Aurobindo slips 6% in a week after arm receives EIR from USFDA

In the past six months, Aurobindo has underperformed the market by falling 31 per cent, as compared to a marginal 0.07 per cent decline in the S&P BSE Sensex.

Shares of Aurobindo Pharma edged lower for the fifth straight day, down 1 per cent to Rs 497.85 in Tuesday’s intra-day trade, after the company’s step-down subsidiary Aurolife received establishment inspection report (EIR) for its US plant in Raleigh, North Carolina from the United States Food and Drug Administration (USFDA).

Since announcement, the stock of this pharmaceutical company declined 6 per cent in the past one week, as compared to 4 per cent decline in the S&P BSE Sensex. It traded at its 52-week low level. Meanwhile, in the past six months, Aurobindo has underperformed the market by falling 31 per cent,