 "Cipla")
After falling 8 per cent from highs due to downgrades on account of the warning letter from US Food and Drug Administration (USFDA) for its Pithampur facility in Madhya Pradesh, Cipla stock has recovered a bit. The company received the letter on November 17 and it followed the official ‘action initiated’ status (which warrants regulatory action) in August 2023.
Brokerages have a mixed view on the impact. While some brokerages believe that the issue could escalate and be detrimental for Cipla, others believe that the warning letter was on expected lines and the impact may not be meaningful.
B&K Securities believes
