Cadila hits 52-week low on 14 observations from USFDA for Moraiya plant

The US Food and Drug Administration has issued 14 observations after inspecting the drug firm's manufacturing facility at Moraiya in Ahmedabad.

Cadila Healthcare shares hit a 52-week low of Rs 292, down 4 per cent in early morning trade on Monday, extending its Friday’s 3.5 per cent fall on the BSE, after getting 14 observations from US health regulator for its Moraiya plant.

The US Food and Drug Administration (USFDA) have issued 14 observations after inspecting its manufacturing facility at Moraiya in Ahmedabad, Cadila Healthcare said in a regulatory filing. 

The USFDA inspected the plant from April 22, 2019 to May 3, 2019. The inspection concluded with 14 observations. There were no repeat observations or data integrity related observations, the drug firm said.

At 09:29 am, the stock was trading 0.38 per cent lower at Rs 303, as compared to 0.89 per cent decline in the S&P BSE Sensex. A combined 849,947 shares have changed hands on the counter on the BSE and NSE so far.