Aurobindo 'FDA'ed again!

about 10 months ago
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Aurobindo Pharma fell almost 2% to hit an intraday low today at Rs.725.15 and is currently trading at Rs.729 levels.

Once more US FDA trouble for the company; in a report published by Bloomberg, according to an FDA report, auditors have uncovered deficient manufacturing equipment cleaning and storage controls during a visit last month to an Aurobindo’s facility in Anakapalli, eastern India.

Multiple faults were found at the plant, ranging from unclean sampling tools, improper raw material storage, inadequate lab controls and many more.

In another report published yesterday, the company said that Auro PR Inc., a step-down wholly owned subsidiary of Aurobindo Pharma Limited, based at Caguas, Puerto Rico, is undertaking a restructuring of its facility to enhance production volume, after completion of commitment for product supply to third party by early July 2023.

In view of the planned restructuring of the facility, Auro PR Inc will not be conducting any manufacturing activity until the repairs / restructuring is complete.

During the previous year, Auro PR Inc contributed 1.76% of the consolidated turnover of the company.

1102.05 (+18.45)

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