Glenmark Pharmaceuticals Limited Update on Baddi Facility

Glenmark Pharmaceuticals Limited had earlier announced about the continuation of "Official Action Indicated" OAI status of the Company's Baddi (India) manufacturing facility by US FDA following the US FDA inspection conducted in June 2022. The US FDA has now placed the Baddi (India) facility under import alert 66-40.

The US revenues from products supplied from this facility contributed to 1-2% of FY22 total revenues for the Company.

The Company will engage with the agency to resolve the import alert at the earliest. The Company is committed to maintaining the highest quality and compliant manufacturing standards at all of its facilities across the globe.

Shares of Glenmark Pharmaceuticals Limited was last trading in BSE at Rs. 398.35 as compared to the previous close of Rs. 398.15. The total number of shares traded during the day was 4534 in over 275 trades.

The stock hit an intraday high of Rs. 402.00 and intraday low of 396.20. The net turnover during the day was Rs. 1811967.00.

Source : Equity Bulls

Keywords

GlenmarkPharmaceuticals INE935A01035 BaddiFacility ImportAlert USFDA