 "Cipla rebounds after clarification on USFDA observations for Goa unit")
Cipla has moved higher to Rs 558, bouncing back 7% from its early morning low on the BSE, after the company said that the observations received from the US drug regulator are procedural in nature.
The stock of pharmaceutical company dipped 6.4% to Rs 523 after the media report suggested that the Cipla received the United States Food and Drug Administration (USFDA) observations for Goa unit.
“The US FDA conducted a product specific pre-approval inspection at our Goa plant in January 2018. We received certain observations which are procedural in nature. We have already responded to the agency on all the observations,” Cipla said in a clarification on news report.
At this stage, we do not foresee any impact on the other products being manufactured/filed from the plant. Post this inspection, we have received 2 product approvals from the plant, it added.
At 12:38 pm; Cipla was trading 0.88% lower at Rs 554 on the BSE, as compared to 0.4% rise in the S&P BSE Sensex. A combined 6.6 million shares changed hands on the counter on the BSE and NSE so far.
The stock of pharmaceutical company dipped 6.4% to Rs 523 after the media report suggested that the Cipla received the United States Food and Drug Administration (USFDA) observations for Goa unit.
“The US FDA conducted a product specific pre-approval inspection at our Goa plant in January 2018. We received certain observations which are procedural in nature. We have already responded to the agency on all the observations,” Cipla said in a clarification on news report.
At this stage, we do not foresee any impact on the other products being manufactured/filed from the plant. Post this inspection, we have received 2 product approvals from the plant, it added.
At 12:38 pm; Cipla was trading 0.88% lower at Rs 554 on the BSE, as compared to 0.4% rise in the S&P BSE Sensex. A combined 6.6 million shares changed hands on the counter on the BSE and NSE so far.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%