Jubilant Life Sciences is trading lower by 5% at Rs 120, extending its previous day’s 10% fall, after the company said that US drug regulator has issued a warning letter with regards to its facility in the US.
During the first half (April-September) of current fiscal 2013-14, the contract manufacturing operations at Jubilant HollisterStier, Spokane contributed 7% to consolidated sales and 4% to consolidated EBITDA of the company, Jubilant Life Sciences said in a regulatory filing.
The company said, until all corrections have been completed and that they have confirmed correction of the violations and firm compliance to cGMPs, FDA may withhold approval of new applications or supplements listing Jubilant HollisterStier-Spokane as the drug product manufacturer, FDA specified in the warning letter.
The stock opened at Rs 124 and touched high of Rs 116 on the BSE. A combined around one million shares have changed hands on the counter in early noon deals on the BSE and NSE.
During the first half (April-September) of current fiscal 2013-14, the contract manufacturing operations at Jubilant HollisterStier, Spokane contributed 7% to consolidated sales and 4% to consolidated EBITDA of the company, Jubilant Life Sciences said in a regulatory filing.
The company said, until all corrections have been completed and that they have confirmed correction of the violations and firm compliance to cGMPs, FDA may withhold approval of new applications or supplements listing Jubilant HollisterStier-Spokane as the drug product manufacturer, FDA specified in the warning letter.
The stock opened at Rs 124 and touched high of Rs 116 on the BSE. A combined around one million shares have changed hands on the counter in early noon deals on the BSE and NSE.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
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%