Aurobindo Pharma slides after USFDA issues five observations to New Jersey facility

Aurobindo Pharma slipped 1.49% to Rs 1,119.35 after the United States Food and Drug Administration (USFDA) issued five observations to company's subsidiary, Aurobindo Pharma USA Inc., at its facility located in New Jersey, USA.

As per the regulatory filing, the USFDA conducted an inspection at one of Aurobindo Pharma USA Inc.'s warehouses, located in East Windsor, New Jersey, from 13 May to 15 May 2024. The inspection focused on the company's compliance with the Drug Supply Chain Security Act (DSCSA) and concluded with five observations.

Subsequently, the US FDA has determined the inspection classification status of this warehousing facility as Official Action Indicated (OAI).

Despite these findings, Aurobindo Pharma stated that it does not foresee any significant impact on its business operations. The company emphasized its commitment to working closely with the USFDA and enhancing compliance measures on an ongoing basis.

Aurobindo Pharma is principally engaged in manufacturing and marketing of active pharmaceutical ingredients, generic pharmaceuticals, and related services.

Aurobindo Pharma reported 10.04% decline in consolidated net profit to Rs 845.57 crore in Q3 FY25, compared to Rs 939.97 crore posted in Q3 FY24. Revenue from operations increased 8.53% year on year (YoY) to Rs 7,978.52 crore in the quarter ended 31 December 2024.

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