Cipla shares end marginally lower after USFDA issues warning letter for Goa facility

Shares of drug firm Cipla on Wednesday tumbled nearly 6 per cent before closing marginally lower as the company announced receiving a warning letter from the US health regulator for its Goa manufacturing facility.

Cipla plunged as much as 5.72 per cent to a low of Rs 401 per unit on the BSE in day trade. Later, the stock recovered most of its losses to settle 0.68 per cent down at Rs 422.45.

On the NSE, the stock slumped 4.69 per cent to Rs 405.80. It closed the day at Rs 422 apiece, down 0.89 per cent.

In terms of volume, the NSE saw an exchange of more than 80 lakh shares and the BSE witnessed a trade of 1.47 lakh units.

The shares of the company have closed in red for the fourth consecutive session. It has declined 3 per cent since Thursday.

The company, earlier in the day, said it had received a warning letter from the United States Food and Drug Administration (USFDA) for the Goa manufacturing facility.

For the Goa manufacturing facility inspection, conducted from 16-27 September 2019, the company has received a warning letter from USFDA, it said in a regulatory filing.