Drugmaker Aurobindo Pharma Ltd. responded to CNBC-TV18's exclusive newsbreak, stating that the USFDA inspection of Eugia-III, the erstwhile Unit IV of Aurobindo Pharma, the formulation manufacturing facility of Eugia, is under progress from January 22.
The company added that the inspection 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," the company said.
Earlier in the day, CNBC-TV18 had reported citing sources that drugmaker Aurobindo Pharma's Unit 4, which is the company's injectables facility is currently being inspected by the United States Food & Drug Administration.
Aurobindo Pharma's Unit 4 is part of Eugia Pharma Specialities, which is the company's injectables arm. The unit in question was transferred to Eugia Pharma Specialities in 2021 on a going concern basis.
The Eugia Unit III was formerly known as Unit IV and manufactures injectables and opthalmics.
The unit in question has 105 drugs with final approval, four with tentative approval and 31 drugs which are under review.
Shares of Aurobindo Pharma are trading 7.1% lower at ₹1,068. This is the biggest single-day drop for the stock since November 2022.
(Edited by : Hormaz Fatakia)
First Published: Feb 1, 2024 10:46 AM IST
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