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Divis Labs slumps over 9 percent on USFDA observations

Divis Labs slumps over 9 percent on USFDA observations

New Delhi: Shares of Divis Laboratories Ltd fell as much as 9.4 percent to Rs. 870.1 on USFDA observations.

Observations issued by the USFDA on its Visakhapatnam plant question data integrity and cite inadequate cleaning procedure, according to a BlooombergQuint report.

Divi’s Labs had said last week it received six observations from the FDA, saying it was procedural in nature. The drug maker did not immediately respond to Reuters’ request for comment on the BlooombergQuint report.

The stock posted its biggest intraday percentage fall since March 21. It had fallen about 28 percent in the last 12 months up to Tuesday’s close.

Source: PTI
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