Aurobindo Pharma falls after US FDA issues 3 observations on Andhra arm

Aurobindo Pharma share price | The share touched a 52-week high of Rs 1,177.00 and a 52-week low of Rs 517.55 on 30 January, 2024 and 05 April, 2023, respectively.

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The share price of Aurobindo Pharma fell in the early trade on April 8 after the company received three observations on its Andhra Pradesh subsidiary.

At 9:19am, Aurobindo Pharma was quoting Rs 1,110.45, down Rs 13.30, or 1.18 percent, on the BSE.

The United States Food and Drug Administration (US FDA) has inspected the new injectable facility of Eugia Steriles, the step-down subsidiary of Aurobindo, in Andhra Pradesh, during March 28 to April 5.

The inspection closed with three observations and are procedural in nature and will be responded to within the stipulated time, the company said.

The said facility has started the commercial operations recently.

The Aurobindo Pharma board has appointed T Vijaya Kumar as president of R&D (specialty drug delivery) with effect from April 5.

Accordingly, T Vijaya Kumar will be part of the senior management team of the company.

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In another development, the company informed that on April 6 around 11:30pm, an accident occurred near Vacuum Tray Dryer (VTD) area at Unit 6 of Apitoria Pharma Private Limited, situated at Parawada in Anakapalli district of Andhra Pradesh.

Unfortunately, there was one casualty due to the accident.

The share touched a 52-week high of Rs 1,177.00 and a 52-week low of Rs 517.55 on January 30, 2024 and April 5, 2023. Currently, the stock is trading 5.65 percent below its 52-week high and 114.56 percent above its 52-week low.