Jubilant Life Sciences is trading lower by 5% at Rs 120, extending its previous day’s 10% fall, after the company said that US drug regulator has issued a warning letter with regards to its facility in the US.
During the first half (April-September) of current fiscal 2013-14, the contract manufacturing operations at Jubilant HollisterStier, Spokane contributed 7% to consolidated sales and 4% to consolidated EBITDA of the company, Jubilant Life Sciences said in a regulatory filing.
The company said, until all corrections have been completed and that they have confirmed correction of the violations and firm compliance to cGMPs, FDA may withhold approval of new applications or supplements listing Jubilant HollisterStier-Spokane as the drug product manufacturer, FDA specified in the warning letter.
The stock opened at Rs 124 and touched high of Rs 116 on the BSE. A combined around one million shares have changed hands on the counter in early noon deals on the BSE and NSE.
During the first half (April-September) of current fiscal 2013-14, the contract manufacturing operations at Jubilant HollisterStier, Spokane contributed 7% to consolidated sales and 4% to consolidated EBITDA of the company, Jubilant Life Sciences said in a regulatory filing.
The company said, until all corrections have been completed and that they have confirmed correction of the violations and firm compliance to cGMPs, FDA may withhold approval of new applications or supplements listing Jubilant HollisterStier-Spokane as the drug product manufacturer, FDA specified in the warning letter.
The stock opened at Rs 124 and touched high of Rs 116 on the BSE. A combined around one million shares have changed hands on the counter in early noon deals on the BSE and NSE.
