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Cipla declines after USFDA inspection

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Cipla fell 2.34% to Rs 440.95 after the company said that the US drug regulator ended its inspection at Patalganga facility with 4 observations.

The drug maker informed that the United States Food and Drug Administration (USFDA) conducted a routine cGMP (current Good Manufacturing Practice) inspection for both formulations and active pharmaceutical ingredients (APIs) at the company's manufacturing facility in Patalganga from 4th to 13 November 2019.

The inspection ended with 4 observations, none of which were repeat or related to data integrity. The company is committed to addressing these observations and will submit its response to the agency within the stipulated time. The announcement was made after trading hours yesterday, 14 November 2019.

On a consolidated basis, net profit of Cipla rose 25.85% to Rs 474.50 crore on 8.01% rise in net sales to Rs 4264.24 crore in Q2 September 2019 over Q2 September 2018.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, November 15 2019. 10:05 IST