Left Menu
Development News Edition

Aurobindo Pharma shares plunge over 6 pc after USFDA warning letter for subsidiary

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.

PTI | New Delhi | Updated: 22-10-2020 11:51 IST | Created: 22-10-2020 11:50 IST
Aurobindo Pharma shares plunge over 6 pc after USFDA warning letter for subsidiary
Representative image

Shares of Aurobindo Pharma on Thursday tanked over 6 percent 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 percent to Rs 754 on the BSE.

On the NSE, it fell 6.53 percent to Rs 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.


TRENDING

OPINION / BLOG / INTERVIEW

Turbulence surrounding tobacco control in Ghana

... ...

Refugee compassion and response: Ideas to mitigate disasters now and in their future

Their homeland becomes a forbidden territory for them and more likely than not, their journey to foreign soil is no less traumatizing, not to say deadly. It is crucial to help refugees live a life of dignity and purpose....

Inadequate water infrastructure causes a tidal wave of coronavirus in rural Alaska

... ...

Videos

Latest News

U.S. prosecutors investigating potential scheme to pay bribe for Trump pardon

The U.S. Justice Department is investigating a potential crime related to funneling money to the White House in exchange for a presidential pardon, according to court documents unsealed in federal court.U.S. District Judge Beryl Howell on T...

Neera Tanden has shown bad judgment in the past: Nikki Haley

Republican politician Nikki Haley Tuesday said Neera Tandens nomination as the Director of Office of Management and Budget is deeply concerning, as she has shown bad judgment in the past. Tanden has shown bad judgment in the past. She said ...

Georgia election official implores Trump to stop fraud rhetoric, fears 'someone's going to get hurt'

A top election official in Georgia on Tuesday implored U.S. President Donald Trump to stop inspiring people to commit potential acts of violence by fanning baseless claims that the election he lost last month was rigged. Gabriel Sterling, m...

GLOBAL MARKETS-Asian stocks rise after vaccine optimism drives Wall St to record highs

Asian markets were set to climb on Wednesday after Wall Street indexes closed at record highs as investors grow increasingly hopeful about a vaccine to combat rising COVID-19 cases and an economic recovery.Weve had some positive leads, and ...

Give Feedback