Natco Pharma shares extend fall; down 4% on USFDA observations

Continuing to fall for the second consecutive day, Natco Pharma shares fell by 4 per cent today after the company received 483 observations from USFDA post the inspection of its two facilities.
The stock ended the day with a loss of 4.09 per cent at Rs 392.55 on BSE. During the day, it slipped 4.71 per cent to Rs 390.
At NSE, shares of the company fell by 3.69 per cent to Rs 393.10.
On the volume front, 2.55 lakh shares of the company changed hands at BSE and over 19 lakh shares were traded at NSE during the day.

In the previous session also, the stock had plummeted by 13 per cent.
An inspection was conducted by the US Food and Drug Administration (USFDA) at two of its facilities -- the Active Pharmaceutical Ingredients (API) manufacturing facility at Manali, near Chennai, and the Pharmaceutical Formulations facility at Kothur, near Hyderabad, in early February and March, respectively, Natco said in a statement on Sunday.
"The company has received 483 observations for both facilities and believes them to be of minor in nature," it had said.
Natco has already sent the response and compliance report for these observations and believes that there would be no adverse impact to its current or future pipeline products coming from these facilities, it added.