Aurobindo Pharma shares plunge over 6% after USFDA warning letter

Aurobindo-Pharma

Shares of Aurobindo Pharma on Thursday tanked over 6 per cent after the company’s step-down subsidiary received a warning letter from the US health regulator for its unit in New Jersey, US.

The stock declined 6.37 per cent to ?754 on the BSE.

On the NSE, it fell 6.53 per cent to ?753.50.

AuroLife Pharma, a wholly-owned step-down subsidiary of the company, has received a warning letter from the United States Food and Drug Administration (USFDA) for its oral solid manufacturing facility situated at Dayton, New Jersey, Aurobindo Pharma said in a BSE filing.

This follows the earlier letter dated June 4, 2020, issuing an OAI (Official Action Indicated) status for this facility.

Aurobindo Pharma said it believes the existing business from this facility will not be impacted.

“The company will be engaging with the regulator and is fully committed in resolving this issue at the earliest,” it added.

The drug firm, however, did not provide any details of the contents of the warning letter.

This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.

News Source:- livemint

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