Aurobindo Pharma gains as USFDA concludes inspection with no remaining deficiencies

Aurobindo Pharma gained 3.53% to Rs 554.95 after the pharmaceutical company on Wednesday cleared five observations, earlier raised by USFDA.

The pre-approval inspection was carried out from 8 February 2022 to 15 February 2022. On completion of the inspection, the USFDA issued Form 483 with five observations.

Based on the inspection review and the written responses given by the company, the United States Food and Drug Administration (USFDA) concluded that the assessment was completed with no remaining deficiencies, Aurobindo said in a press release. A copy of the Establishment Inspection Report (EIR) has been received by the company dated 17 May 2022.

Aurobindo Pharma develops, manufactures and distributes generic pharmaceuticals, branded specialty pharmaceuticals and active pharmaceutical ingredients.

The company's consolidated net profit slumped 79.5% to Rs 604.29 crore on a 5.7% decline in net sales to Rs 5,949.83 crore in Q3 FY22 over Q3 FY21.

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