The company stressed that it will work closely with the US Food and Drug Administration (USFDA) to comprehensively address the issues.
Drug firm Aurobindo Pharma on Thursday reported that the US health regulator has cautioned that its oral solids formulation manufacturing facility may be subject to regulatory actions.The company stressed that it will work closely with the US Food and Drug Administration (USFDA) to comprehensively address the issues.”Further to our intimations… with regard to the USFDA inspection of Unit VII, an oral solids formulation manufacturing facility of the company, we inform you that the company has received a letter from the USFDA classifying the inspection conducted at the aforesaid facility as official action indicated (OAI),” Aurobindo Pharma Ltd said in a filing to BSE.According to USFDA’s definitions, OAI means “objectionable conditions were found and regulatory administrative sanctions by FDA are indicated” during inspections.The company said that it believes that this OAI classification will not have any material impact on the existing revenues or the supplies to its US business at this juncture.The shares of Aurobindo Pharma were trading at Rs 484.50 apiece on BSE, down 4.49 percent from the previous close.Get access to India’s fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code “GETPRO”. Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app. First Published on Jan 30, 2020 12:05 pm