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What is the story about?
Shares of Aurobindo Pharma Ltd. are trading in the red on Monday, February 9, after the US Food and Drug Administration (USFDA) conducted an inspection at the company's Unit III manufacturing facility.
The inspection, which was carried out between January 27 and February 6, resulted in 11 observations being issued to the plant.
Unit III is a formulations manufacturing facility.
This development comes against the backdrop of heightened regulatory scrutiny at the site. The facility had received an Official Action Indicated status in May 2024, followed by a warning letter from the USFDA in August 2024.
On Friday, Aurobindo Pharma shares settled 1.13% higher at ₹1,195. The stock is flat on a year-to-date basis.
The inspection, which was carried out between January 27 and February 6, resulted in 11 observations being issued to the plant.
Unit III is a formulations manufacturing facility.
This development comes against the backdrop of heightened regulatory scrutiny at the site. The facility had received an Official Action Indicated status in May 2024, followed by a warning letter from the USFDA in August 2024.
On Friday, Aurobindo Pharma shares settled 1.13% higher at ₹1,195. The stock is flat on a year-to-date basis.
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