Shilpa Medicare slips 5% as USFDA issues Form 483 for Telangana facility

The stock price has more than doubled in the past one month, from the level of Rs 260 on January 24, 2020

Shares of Shilpa Medicare were locked in 5 per cent lower circuit at Rs 489 -- down 9 per cent from intra-day high -- on the BSE on Wednesday after the US health regulator issued Form 483, with 15 observations for the company’s facility in Telangana.

Till 12:11 pm, a combined 217,507 shares had changed hands and there were pending sell orders for 38,590 shares on the BSE and NSE.

“The US Food and Drug Administration (USFDA) conducted Good Manufacturing Practices (GMP) inspection of Shilpa Medicare’s finished dosage formulation facility (sterile and non-sterile) located at S-20 to S-26,