Cipla’s shares are in the limelight today after the Konkan division of the Food and Drug Administration had ordered the suspension of the license issued by the FDA to the company’s Patalganga manufacturing unit for 10 days in December 2023.

The order was issued due to the non-conformance of good manufacturing practices under the Drugs and Cosmetics Act 1940.

The company said, “Not in agreement with the FDA rulings, being the basis for the said suspension; the Company is in the process of appealing the said order to the State Government.”

The company has affirmed to the investors that the suspension will not affect financial operations or any other activities.

Cipla has made the headlines recently after the alleged reports that the world’s largest private equity fund Blackstone was in talks to acquire the promoter’s stake, the Hameid family.

The pharmaceutical major is in the business of developing, manufacturing and marketing an array of branded and generic formulations and Active Pharmaceutical Ingredients (APIs). The firm has a wide network of manufacturing, trading and other incidental operations in India and international markets.

At 1:00 pm, shares of Cipla were trading at Rs 1,232.20 or 0.91% below its previous close on NSE.