Aarti Drugs informed that its Baddi facility has received Establishment Inspection Report (EIR) from US drug regulator, concluding the inspection as closed.
The USFDA had inspected the formulations (Oncology) manufacturing facility of the drug makers subsidiary (Pinnacle Life Science) at Baddi, Himachal Pradesh from 16 to 22 April 2024. On conclusion of the inspection on 23 April 2024, the firm received 5 inspectional observations in Form 483.The United States Food and Drug Administration (USFDA) have now issued EIR to the facility stating the inspection being Closed.
Aarti Drugs forms part of $6 Billion Aarti Group of Industries with robust R&D Division at Tarapur, Maharashtra Industrial Development Corporation (MIDC) in close vicinity to manufacturing locations. The company is engaged in the manufacturing of Active Pharmaceutical Ingredients (APIs), Pharma Intermediates, Speciality Chemicals and produces Formulations with its whollyowned subsidiary-Pinnacle Life Science Private.
The companys consolidated net profit declined 30.5% to Rs 33.24 crore on 16% slide in net sales to Rs 555.34 crore in Q1 FY25 over Q1 FY24.
The scrip slipped 4.41% to settle at Rs 503.25 on Monday, 29 July 2024.
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