FDA warning letter to Aurobindo Pharma - Angel Broking

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FDA warning letter to Aurobindo Pharma - Angel Broking
Posted On: 2020-10-22 01:36:24 (Time Zone: Arizona, USA)

Mr. Yash Gupta - Equity Research Associate, Angel Broking Ltd Aurobindo Pharma Limited informs that AuroLife Pharma LLC, a wholly owned step down subsidiary of the Company, has received a warning letter from USFDA for its oral solid manufacturing facility situated at Dayton, New Jersey. This latter follows the earlier letter dated June 4, 2020 issuing a OAI status for this facility. Companies believe that the existing business from this facility will not be impacted. Company will be engaging with the regulator and are fully committed in resolving this issue at the earliest. This is negative development for Aurobindo Pharma Limited. Shares of AUROBINDO PHARMA LTD. was last trading in BSE at Rs.805.6 as compared to the previous close of Rs. 800.2. The total number of shares traded during the day was 82119 in over 2112 trades. The stock hit an intraday high of Rs. 808.6 and intraday low of 792. The net turnover during the day was Rs. 65955222.
Source: Equity Bulls
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