Ajanta Pharma slips after US FDA issues form 483 to Dahej facility

Ajanta Pharma fell 1.61% to Rs 1372.60 after the company announced that the US FDA had issued Form 483 was issued to us with 2 observations after the inspection of its Dahej facility.

The company said that its formulation facility at Dahej was inspected by United States Food and Drug Administration (US FDA) from 5th September 2022 to 9th September 2022.

At the end of the inspection, form 483 was issued to the company with 2 procedural observations.

"We are in the process of responding to the same within the stipulated time prescribed by US FDA, the company said in a statement.

Ajanta Pharma is a specialty pharmaceutical formulation company having branded generic business in India and emerging markets, generic business in US and institution business in Africa.

The company's consolidated net profit rose 0.5% to Rs 174.62 crore despite a 27.1% increase in revenue from operations to Rs 950.93 crore in Q1 FY23 over Q1 FY22.

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