Aurobindo Pharma rises 5 pc post clarification on USFDA observations for Unit-7
A clarification was sought from Aurobindo Pharma regarding declining share prices on the back of USFDA observations.
New Delhi: Shares of Aurobindo Pharma recovered over 5 per cent on Wednesday after the company clarified that none of the seven observations from the US health regulator for its Telangana unit was linked to data integrity.
In a regulatory filing post-market hours on Monday, Aurobindo Pharma said that it is "confident of addressing these issues within the stipulated timeline".
The equity market was closed on Tuesday on account of Dussehra.
Shares of the company opened on a strong note at Rs 472.00, then gained further ground.
A clarification was sought from the company regarding declining share prices on the back of USFDA observations.
The shares of Aurobindo Pharma had slumped over 19 per cent and had hit its 52-week low of Rs 450 on Monday after the US health regulator issued seven observations.
The United States Food and Drug Administration (USFDA) conducted a Current Good Manufacturing Practices (CGMP) inspection at the company's unit-7 manufacturing facility from September 19 to 27, Aurobindo Pharma had said in a BSE filing.
The inspection ended with seven observations, it added.
"We believe none of the observations is related to data integrity. The company is confident of addressing these issues within the stipulated timeline," Aurobindo Pharma said.