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Alkem tanks 9% as USFDA makes observations against Daman plant

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Press Trust of India New Delhi
Shares of Alkem Laboratories today slumped nearly 9 per cent after the company said it has received inspection report with 13 observations from the US health regulator after inspection of its manufacturing facility at Daman.

After a weak opening, the stock further plunged 8.26 per cent to Rs 1,655 on BSE.

At NSE, shares of the company dived 8.79 per cent to Rs 1,653.

"The United States Food and Drug Administration (USFDA) had conducted an inspection at the company's manufacturing facility located at Daman from September 20 to September 29, 2016," Alkem Laboratories said in a filing to BSE yesterday.
 

The company has received the inspection report which contains 13 observations, it added.

An FDA Form 483 is issued to firm management at the conclusion of an inspection "when an investigator(s) has observed any conditions that in their judgment may constitute violations of the Food Drug and Cosmetic Act and related Acts.

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First Published: Sep 30 2016 | 12:32 PM IST

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