Aurobindo Pharma is not doing too well today morning, figuring among top five losers, opening 4% lower at Rs.689.95 and going down further to an intraday low at Rs.685.85 and currently trading around same levels.
The company announced today that its API manufacturing in Hyderabad, has received a warning letter from the USFDA. A warning letter signifies a major violation of the FDA regualations.
This action follows the recent inspection of the Unit by the USFDA in August 2021.
The Company believes that this will not impact the existing business from this facility and will be engaging with the regulator to get this resolved.