Shares of Aurobindo Pharma hit a 52-week low at Rs392.60 on the BSE after the USFDA has issued a 'Form 483' to its Hyderabad facility with 14 observations.
The United States Food and Drug Administration (USFDA) inspected Company's Unit IV, a general injectable formulation manufacturing facility situated at Pashamylaram, Hyderabad, from November 4-13, 2019.
At the end of the inspection, the company has been issued a 'Form 483' with 14 observations. The pharma company said that none of these observations is related to data integrity issues. The Company will respond to the USFDA within the stipulated timeline, the company said in the press note.
Meanwhile, in this week the company posted a net profit after JV share, minority interest at Rs639.5cr as against Rs611.4cr in the corresponding period last year, witnessing a growth of 4.6% yoy.
Revenue from operations at Rs5,600.5cr witnessed a strong growth of 17.9% over the corresponding previous period.
Aurobindo Pharma Ltd is currently trading at Rs399.80, down by Rs33.6 or 7.75% from its previous closing of Rs433.40 on the BSE.
The scrip opened at Rs414 and has touched a high and low of Rs414 and Rs392.60 respectively.
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