Aurobindo Pharma gains on receiving EIR from USFDA for Hyderabad facility

Aurobindo Pharma said its Unit VIII, API manufacturing facility at Hyderabad received the Establishment Inspection Report (EIR) with Voluntary Action Initiated (VAI) status from US drug regulator.

The scrip was currently up 0.71% at Rs 507.70. It traded in the range of Rs 504 and Rs 520 so far during the day.

In a regulatory filing made on 6 November 2019, the company had informed about the United States Food and Drug Administration (USFDA) inspection at its Unit VIII, API manufacturing facility at Gaddapotharam, Hyderabad conducted between 21 and 25 of October 2019. At the end of the inspections, the drug maker was issued a 'Form 483' with 4 observations for the said facility.

Aurobindo Pharma is engaged in producing oral and injectable generic formulations and active pharmaceutical ingredients (APIs). Its product portfolio is spread over seven therapeutic/product areas, including antibiotics, anti-retrovirals, cardiovascular, central nervous system, gastroenterologicals, anti-allergies and anti-diabetics.

On a consolidated basis, the drug maker's net profit declined 1% to Rs 705.45 crore despite 12.1% rise in net sales to Rs 5799.44 crore in Q3 December 2019 over Q3 December 2018.

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