A day after Cadila Healthcare received a severe drubbing following a USFDA warning letter, its shares today bounced back to end nearly 2 per cent higher.
The stock ended with a gain of 1.27 per cent at Rs 331.95 on BSE. During the day, it climbed 3.11 per cent to Rs 338.
At NSE, shares of the company went up by 1.57 per cent to end at Rs 332.70.
The stock had plummeted by almost 15 per cent yesterday.
In a regulatory filing yesterday Cadila Healthcare said it "received a warning letter issued from USFDA relating to its Moraiya formulation facility and Ahmedabad API facility (Zyfine) in Gujarat."
"The company is working hard to ensure the commitments made to USFDA are fully completed. The company will continue to take all necessary steps to ensure the US health regulator is fully satisfied with our remediation of the above facilities," it added.
Cadila Healthcare clarified there are no products in the US market which use API (active pharmaceutical ingredient) of the Zyfine facility.
