IPCA Laboratories Ltd had earlier announced about US FDA inspection of its Piparia (Silvassa) formulations manufacturing unit from 19th August, 2019 to 23rd August, 2019 which resulted into 3 observations under USFDA Form 483.
The company has now received a communication from US FDA that they have determined the inspection classification of this manufacturing facility as "Official Action Indicated (OAI)" and that that this facility is considered to be in an unacceptable state of compliance with regards to current good manufacturing practice (CGMP).
Since this manufacturing facility is already under US FDA import alert and presently not doing any US business, this will have no impact on Company's current on-going business activities.
Shares of IPCA LABORATORIES LTD. was last trading in BSE at Rs.1098.2 as compared to the previous close of Rs. 1092.8. The total number of shares traded during the day was 4525 in over 947 trades.
The stock hit an intraday high of Rs. 1114.55 and intraday low of 1096.85. The net turnover during the day was Rs. 4993210.