Aurobindo Pharma hits 5-year low on USFDA observations for Hyderabad plant

The stock tumbled 9 per cent to Rs 393, its lowest level since September 2014.

Shares of Aurobindo Pharma hit an over five-year low of Rs 393, down 9 per cent on the BSE on Thursday after the company received a Form 483 from US Food and Drug Administration (USFDA) with 14 observations for its Hyderabad facility. The stock of drug company was trading at its lowest level since September 2014.

“The US FDA inspected Company's Unit IV, a general injectable formulation manufacturing facility situated at Pashamylaram, Hyderabad, from 4th to 13th November 2019. At the end of the inspection, we have been issued a 'Form 483' with 14 observations,” Aurobindo Pharma said in