Aurobindo Pharma tumbles over 3% after USFDA warning letter to subsidiary

Shares of Aurobindo Pharma on Thursday closed over 3 per cent lower 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, which declined 6.92 per cent to Rs 749.55 during the day on BSE, later closed at Rs 782.45, lower by 2.84 per cent.

On the NSE, it fell 3.37 per cent to settle at Rs 779.

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.


(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)


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