New Delhi : Shares of Aurobindo Pharma fell by nearly 4 per cent after the company said that US health regulator has issued observations for its Unit III formulations facility in Hyderabad.
The stock went down by 3.53 per cent to end at Rs 640.20 on BSE. During the day, it dipped 4.68 per cent to Rs 632.50.
On NSE, shares of the company slipped 3.65 per cent to close at Rs 640.05.
On the volume front, 3.63 lakh shares of the company were traded on BSE and over 30 lakh shares changed hands on NSE during the day.
The United States Food and Drug Administration (USFDA) had conducted an inspection at the company’s Unit III, a formulations manufacturing facility at Bachupally, Hyderabad from April 10-18, Aurobindo Pharma said in a BSE filing.
“At the end of the inspection, we have been issued a Form 483 with 6 observations. The observations are all on procedural improvements,” it added.
As per the USFDA, a Form 483 is issued to a company’s management at the conclusion of an inspection when “an investigator(s) has observed any conditions that in their judgement may constitute violations of the Food Drug and Cosmetic (FD&C) Act and related Acts”.