Torrent Pharmaceuticals Ltd has received a communication from the USFDA classifying the inspection conducted at its Indrad facility in April, 2019 as Official Action Initiated (OAI).
The Company already had submitted its initial response to USFDA and commitments given in response to Form 483 observations have been fulfilled. The Company is sending further updates over receiving of this OAI letter. The Company will be engaging with the regulator and is fully committed in resolving this issue at the earliest.
The Company does not believe that this inspection classification will have an impact of disruption of supplies or the revenues from operations of this facility.
Shares of TORRENT PHARMACEUTICALS LTD. was last trading in BSE at Rs.1671.5 as compared to the previous close of Rs. 1711.85. The total number of shares traded during the day was 13224 in over 808 trades.
The stock hit an intraday high of Rs. 1702.45 and intraday low of 1670.55. The net turnover during the day was Rs. 22260376.