Shares of Natco Pharma tumbled 1% on 20 October after the USFDA (US Food and Drug Administration) issued 8 observations for its Hyderabad unit.

The USFDA conducted an inspection at the company’s pharma division in Kothur, Hyderabad between 9 October 2023 and 18 October 2023. At the end of its inspection, the facility received 8 observations.

In its regulatory filing, the company said, “The company is confident of addressing all the observations within the stipulated time and working with USFDA to close them at the earliest.”

In September, the company was named as the defendant in an antitrust lawsuit filed in the United States. The lawsuit was filed by Louisiana Health Service and Indemnity Company and HMO Louisiana against the company regarding pomalidomide, which is a drug used for treating cancer. The company has yet to disclose further details of this lawsuit.

At 10:07 am, the shares of Natco Pharma were trading 0.61% below at Rs 828.65 on NSE.