Natco Pharma shares down as USFDA issues 8 observations for Hyderabad unit

The company is confident of addressing all the observations within the stipulated time and is working with the USFDA to close them at the earliest.

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Natco Pharma share price fell 1 percent in early trade on October 20 after the United States Food and Drug Administration (USFDA) issued 8 observations for its Hyderabad unit. At 09:22 hrs Natco Pharma was quoting at Rs 824.00, down Rs 9.75, or 1.17 percent on the BSE. The USFDA completed the inspection at the company’s pharma division located in Kothur in Hyderabad.

The USFDA conducted the inspection from October 9, 2023 to October 18, 2023.

The company is confident of addressing all the observations within the stipulated time and is working with the USFDA to close them at the earliest.

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In September, company was named as a defendant in an antitrust lawsuit in the United States. The lawsuit was filed against Natco Pharma by Louisiana Health Service and Indemnity Company and HMO Louisiana regarding pomalidomide, a drug used in treating cancer. However, the company has not disclosed any further details.