Shares of Aurobindo Pharma Ltd. fell by 2.5% after reaching a day’s high of Rs 1,518.90 on 30th September, following the company’s announcement that the USFDA issued 10 observations to its API manufacturing facility in Telangana.

The USFDA had inspected Unit-II, an API manufacturing facility of Aurobindo Pharma, from 23rd September to 27th September, 2024.

The company stated that the observations made during the inspection are procedural in nature and will be addressed within the required timeframe.

The USFDA audit concluded on Friday, 27th September, 2024, at 8:00 PM. A delay in communication occurred due to the unavailability of the senior technical team to review the nature of the observations, according to the company’s filing.

Earlier this month, Aurobindo Pharma announced that its step-down subsidiary, Eugia Sterlite Private Ltd., received an Establishment Inspection Report (EIR) from the USFDA for its new injectable manufacturing facility in Parawada Mandal, Anakapalli district, Andhra Pradesh.

The company reported net sales of Rs 7,567.02 crore in June 2024, a 10.46% increase from Rs 6,850.52 crore in June 2023. Their quarterly net profit rose by 61.05% to Rs 919.22 crore, up from Rs 570.75 crore last year.

EBITDA for the June 2024 quarter was Rs 1,840.50 crore, a 45.18% increase from Rs 1,267.70 crore in the previous year.

At 2:24 PM, the shares of Aurobindo Pharma were trading 2.56% lower at Rs 1,472.60 on NSE.

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