Alkem Lab shares fall over 3% on plant observation report

Alkem Laboratories shares today fell over 3 per cent after the company received an inspection report from the UK health regulator citing eight observations regarding its manufacturing plant at Taloja, Maharashtra.
After plunging 6.98 per cent to Rs 1,271 in intra-day, the scrip finally ended at Rs 1,322.50, down 3.22 per cent on BSE.
On NSE, the stock slipped 2.13 per cent to close at Rs 1,327.55.
The Medicines and Healthcare Products Regulator Agency (UKMHRA) had conducted an inspection at the company's facility at Taloja earlier last month with respect to marketing authorisation applications made by the company to the EU countries.

"The company has received inspection report from the UKMHRA on March 30, where eight observations have been made by the regulator. The company is in the process of putting together responses to address the observations made by the UKMHRA," Alkem Laboratories had said in a regulatory filing yesterday.
"The company does not anticipate any impact on its existing registered products in the EU market," it had said.