Aurobindo Pharma falls 6% after USFDA classifies inspection as OAI

Aurobindo Pharma shares fell 6 per cent to Rs 682 in early morning trade on the BSE on Friday after the drug firm announced that the American drug regulator classified the inspection of the company’s API intermediates facilities of Unit I, IX and XI as Official Action Indicated (OAI).

“The company has received letters from the US Food and Drug Administration (USFDA) classifying the inspections concluded at our API facilities of Unit I and XI and intermediates facility of unit IX in February 2019 as Official Action Indicated (OAI).” the regulatory fiing said.

Aurobindo Pharma has already submitted its initial response to USFDA.

"The company is sending further updates on the committed corrective actions," it said, adding that it was confident that these OAI classifications will not have an impact on disruption of supplies or the revenue from operations of these facilities.

At 09:54 am, Aurobindo Pharma was trading 5.4 per cent lower at Rs 686 on the BSE, as compared to a 0.41 per cent rise in the S&P BSE Sensex. The counter has seen huge trading volumes with a combined 1.86 million shares changing hands on the NSE and BSE in the first 40 minutes of trade.