Aurobindo Pharma fell 3.77% to Rs 774.95 after the company's wholly-owned step-down subsidiary, AuroLife Pharma LLC, received a warning letter from the US drug regulator for its oral solid manufacturing facility situated at Dayton, New Jersey.
This warning letter follows the earlier letter dated 4 June 2020 issuing a Official Action Indicated (OAI) status for Dayton facility. The company assured that the existing business from this facility will not be impacted. The company also said it will be engaging with the regulator and is fully committed in resolving this issue at the earliest.The pharma company's consolidated net profit jumped 22.8% to Rs 780.68 crore on 8.9% increase in net sales to Rs 5,835.23 crore in Q1 June 2020 over Q1 June 2019.
Aurobindo Pharma is engaged in producing oral and injectable generic formulations and active pharmaceutical ingredients (APIs).
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