Granules India dips 10% on 11 observations from Portugal authority

The regulator had detected nonconformities in the good manufacturing practices system

Granules India's share price fell by 10 per cent on Monday reacting to the news reports about a set of critical observations issued by Portuguese drug regulator on its Gagillapur unit near Hyderabad that manufactures pharmaceutical formulation intermediates (PFIs) and finished dosages (FDs).

The scrip closed at 101.20 by the end of the trading session from the previous close of Rs 112.25 while touching a low of 97.80 during the day.

Infarmed (National Authority of Medicines and Health Products), Portugal, had conducted a renewal inspection at the Gagillapur facility on January 6, and the company received the inspection report with eleven observations.

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