Aurobindo Pharma shares down more than 6% amid US FDA inspection

New Delhi: Aurobindo Pharma shares fell more than 6 per cent on Thursday amid an inspection by the US Food and Drug Administration (FDA).

Aurobindo Pharma shares were down 6.6 per cent at Rs 1,074 on the BSE. The company has a market cap of Rs 62,950 crore.

Aurobindo Pharma said the US FDA inspection of Eugia-III (erstwhile unit IV of Aurobindo Pharma Limited), a formulation manufacturing facility, of Eugia Pharma Specialities Ltd. is under progress from January 22, and has not been concluded yet.

As per the usual and standard practice, after the inspection is concluded, Aurobindo Pharma intimates the stock exchanges regarding the outcome, including the number of observations, if any, and the same will be followed for the ongoing inspection also, it said.

The company has been diligently disclosing all the material information as per Regulation 30 of the Securities and Exchange Board of India (Listing Obligation and Disclosure Requirement) Regulation 2015, and confirms to disclose any material information required to be disclosed as and when it is required, it said.

The US FDA had conducted an inspection at the Unit VI-B, a formulation manufacturing facility of the company, situated at Chitkul Village, Sangareddy district, Telangana, from September 22 to September 29, 2023. The unit has now received Establishment Inspection Report classifying the facility as 'Voluntary Action Indicated' (VAI).