Shares of Cadila Healthcare plunged nearly 17 per cent today as the company has received a warning letter from the US Food and Drug Administration (USFDA) for its two facilities in Gujarat.
The stock reacted by plummeting 16.79 per cent to Rs 320.45 on BSE.
On NSE, it tumbled 16.69 per cent to Rs 320.10.
"The company has received a warning letter issued by USFDA relating to its Moraiya formulation facility and Ahmedabad API facility (Zyfine) in Gujarat," Cadila Healthcare said in a BSE filing.
"The company is working hard to ensure the commitments made to USFDA are fully completed. The company will continue to take all necessary steps to ensure the US health regulator is fully satisfied with our remediation of the above facilities," it added.
Cadila Healthcare clarified that there are no products in the US market which use API (active pharmaceutical ingredient) of the Zyfine facility.
