 "Aurobindo Pharma hits over three-month low")
Shares of Aurobindo Pharma has dipped nearly 6% to Rs 755, its lowest level since October 9, 2015 on the NSE, after the drug maker on Monday said that the US Food and Drug Administration (USFDA) has made certain observations after inspecting one of its units.
Aurobindo Pharma said two of its manufacturing facilities, Unit 3 and Unit 7 underwent pre-approval inspection by USFDA and there was no Form 483 observations issued for Unit 3.
"With regard to Unit 7 there were certain observations. The company is appropriately responding and this has no perceived impact on the operations and exports from the said facility". Aurobino said.
The company manufactures non penicillins, non cephalosporins & anti-retroviral (ARVs) in Unit 7.
In past two trading sessions, the stock has fallen 9.5% from Rs 834 on January 29.
At 10:42 AM, the stock was down 4.6% at Rs 764 as compared to a 0.07% rise in Nifty 50 index. A combined 2.37 million shares changed hands on the counter on the NSE and BSE.
Aurobindo Pharma said two of its manufacturing facilities, Unit 3 and Unit 7 underwent pre-approval inspection by USFDA and there was no Form 483 observations issued for Unit 3.
"With regard to Unit 7 there were certain observations. The company is appropriately responding and this has no perceived impact on the operations and exports from the said facility". Aurobino said.
The company manufactures non penicillins, non cephalosporins & anti-retroviral (ARVs) in Unit 7.
In past two trading sessions, the stock has fallen 9.5% from Rs 834 on January 29.
At 10:42 AM, the stock was down 4.6% at Rs 764 as compared to a 0.07% rise in Nifty 50 index. A combined 2.37 million shares changed hands on the counter on the NSE and BSE.
