Cipla falls 4%, nears 52-week low on concerns of product launch delay in US

In the past seven trading days, the stock has dipped 11% after the United States Food and Drug Administration issued Form 483 with 8 observations for the company's Pithampur manufacturing facilities

Shares of Cipla slipped 4 per cent to Rs 910.10, hitting an over eight-month low on the BSE in Tuesday's intra-day trade, on concerns of product launch delay in the US. The stock of the pharmaceutical company was trading at its lowest level since June 20, 2022. It was quoting close to its 52-week low of Rs 890, touched on May 11, 2022.

In the past seven trading days, the stock price of Cipla has dipped 11 per cent after the company, on February 18, said that the United States Food and Drug Administration (US FDA) has issued Form